IDFC To Acquire ICICI Ventures' Stake In Sahyadri Hospitals
IDFC's investment arm is set to acquire ICICI Venture's stake in 
Sahyadri Hospitals. This deal will value Sahyadri at about R300Cr.
In 2008, ICICI Venture invested $36 Mn through IVEN Medicare, a special purpose vehicle floated by ICICI Ventures to manage its investments in the healthcare sector.
Founded in 1996 by Charudutt Achyut Apte, Sahyadri Hospitals Limited operates chain of hospitals in Mahrashtra.
It currently operates 10 hospitals in Pune, Nashik, Karad and Navi Mumbai with more than 860 beds.
Sahyadri Hospitals Ltd has also started a 110-bed facility in public-private-partnership on build, operate and transfer basis with Pune Municipal Corporation at Bopodi.
Performance of Sahyadri
| (Rs Mn) | 2010 | 2009 | 2008 |
| Sales | 911.76 | 614.25 | 478.59 |
| EBITDA | 104.63 | 87.74 | 75.35 |
| PAT | 17.14 | 45.22 | 28.69 |
| Share Capital | 173.98 | 165.61 | 144.67 |
| Reserves | 536.93 | 468.16 | 293.88 |
| Total Debt | 338.53 | 170.19 | 87 |
In healthcare space, Dubai based healthcare group - DM Healthcare has raised R500Cr from Olympus Capital to set up hospitals in India; Parkway Holdings was planning to buyout Actis' 80% stake in Ahemadabad based Sterling Hospitals for around Rs700Cr.
In another news, Subbu Subramanium founded MCap Fund Advisors and IDFC Private equity are investing R100Cr in Regen Powertech.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 07/02/12 | ICICI Venture (Exit) - Sahyadri Hospitals - IDFC | Private Equity | IDFC Private Equity | 61.17 |
| 09/01/08 | Sahyadri Hospitals - ICICI Venture Ltd. | Private Equity | I-Ven Medicare India Private Limited | 36.00 |
| 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 |
Fund |
||||
| Name | Corpus | Target Sector | Website | KeyContact |
|---|---|---|---|---|
| IDFC Private Equity | Infrastructure Telecom Oil & Gas |
www.idfcpe.com | Shivani BhasinLuis MirandaVikram ManiarAnahita PatellShishir MaheshwariGordon D'SouzaAmit MahensariaLuis MirandaShyamSundar S GRaja ParthasarathyPinaki BhattacharyyaVinod GiriPrasad GadkariApurva PatelRohit AnandAmit MahensariaGordon D'SouzaShishir MaheshwariAnahita PatellVikram ManiarRishi ShuklaPrakash KarnikSatish MandhanaGirish NadkarniVineet SachdevaGirsh NadkarniShyam SundarRupa Vora | |
| I-Ven Medicare India Private Limited | 250 | Healthcare | ||
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Sahyadri Hospitals Limited | Charudutt Achyut Apte | 69/4,Erandwane, Law Collage Road |
Apollo Hospitals Enterprise Limited Malar Hospitals Limited Wockhardt Hospitals Limited Vikram Hospital Private Limited Quality Care India Limited |
www.sahyadrihospital.com |
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