Nova Medical Center Acquires Chennai Based Helios Hospitals
GTI Group owned 
Nova Medical Centers has acquired Chennai based Helios Hospitals. Financial details of the transaction were not disclosed.
Helios Hospitals in Velachery, a suburban hub in Chennai and the satellite clinic for consultation and diagnostic in Adyar will run under the supervision of its founder - Nandkumar Sundaram.
Nova is also setting up a super-specialty short-stay surgical facility in Chennai by June. This facility will offer services such as laparoscopy, gastro-intestinal surgery, bariatric surgery, orthopaedics, ENT, ophthalmology, paediatrics, vascular surgery, plastic surgery and pain management.
Nova Medical Center was founded by New York-based private equity firm GTI Group LLC and Mahesh Reddy.
Nova raised $3.5Mn from GTI LLC in its initial round of funding and followed it up by further investments by New Enterprise Associates and GTI group.
Nova forayed into IVF after it bought a majority stake in the IVF business of Ahmedabad-based Pulse Women's Hospital for an undisclosed amount in August. The IVF arm accounts for about one-third of its revenues, which is expected to close at over R100Cr this fiscal. The company is now looking to offload minority stake in this division.
Nova Medical plans to expand across the country by forming joint ventures with regional players. It has formed a JV with Dr. Ramayyas' Pramila Hospitals for setting up centers in Hyderabad.
It also has a 69:31 JV with Max Healthcare Institute Limited for setting up ambulatory surgery centres centers in the NCR region.
The company recently created a 51:49 JV with Oman based - Omzest Group to set up ambulatory surgery centres in Dubai, Muscat, Abu Dhabi and Riyadh.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 06/02/12 | Helios Hospitals - Nova Medical Centers | M&A | Nova Medical Centers Private Limited | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 18/05/12 | Private Equity | National Skill Development Corporation | Apollo Med Skills Limited | 0.67 | Completed |
| 16/05/12 | M&A | Piramal Healthcare Limited | Decision Resources Group | 635.00 | Completed |
| 14/05/12 | Private Equity | Equity Partners Fund SPC India | Avesthagen Limited | 60.00 | Planned |
| 14/05/12 | Private Equity | India Value Fund Advisors Private Limited | Manipal Hospitals | 93.28 | Planned |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Nova Medical Centers Private Limited | Suresh Soni Mahesh Reddy |
1st Floor, Leela Galleria, The Leela Palace, No.23, Old Airport Road |
Wockhardt Hospitals Limited Manipal Health Systems Private Limited Apollo Hospitals Enterprise Limited Malar Hospitals Limited DM Healthcare Private Limited |
www.novamedicalcenters.com |
| Helios Hospitals Private Limited | Nandakumar Sundaram | 4/28, Casurina Drive, Kapaleeswarar Nagar, Neelankarai | www.helioshospitals.in | |
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