Matrix Partners India has picked up a minority stake in Mewar Orthopaedic Hospitals for an undisclosed amount in the first institutional investment round.

ET states that the PE firm bought around 20% stake for approx. R30 Cr.

The funds will be used for setting up of 100-bed center of excellence in Udaipur and increase spread across Sirohi, Mandsaur and Chittorgarh.

A 12 year old company, Mewar Orthopaedic focuses on providing surgical orthopaedic care in Rajasthan, Gujarat and Madhya Pradesh.

It currently operates five hospitals which provides routine and emergency orthopaedic, surgical, accidental trauma services, diagnostic services and ancillary services like pharmacy.

Matrix had earlier invested R45 Cr in a Series A round in Bangalore based Kids Clinic India, that delivers maternity and infant care under the brand name Cloudnine. This investment followed the earlier one of R50 Cr in Delhi based eye hospital chain – Center for Sight.

Healthcare players are witnessing a rising interest from the PE firms. In August Goldman Sachs and New Enterprise Associates jointly invested around $54 Mn in GTI promoted - Nova Medical Centres Private Limited for minority stake.

In the same month, Renuka Ramnath led Multiples PE put in R220 Cr in ICICI Venture backed Vikram Hospitals Pvt. Ltd., a super speciality hospital in Mysore and Sequoia Capital was set to invest R100 Cr in Delhi based hospital chain – Moolchand Healthcare.

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