TPG, AMP Capital May Invest In KMC Hospital
TPG Growth and AMP Capital are in race to acquire about 49% stake in Kavery Medical Centre and Hospitals, which will also includes shares owned by a healthcare fund of Ajay Piramal.
TOI states that, TPG Growth has issued a term-sheet to KMC Hospitals for R180 Cr ($30 Mn) investment deal through purchase of secondary and primary shares, while AMP Capital has also entered the fray with an offer valuing the hospital company at R350 Cr.
o3 Capital and Edelweiss are advising KMC on the deal.
In 2007, India Venture Fund made its maiden investment in the hospital and currently holds at least 30% equity.
KMC Hospitals has about 500 beds with plans to expand as a regional healthcare provider in Tier-II southern cities. The business model revolves around a slew of secondary care centres around Trichy, which is its base and tertiary care hub. It had hoped to reach 1,000 beds by 2014 - four years ago.
Recently, Standard Chartered PE picked up close to 50 Lac shares of Fortis Healthcare for a total of R47.21 Cr, through an open market transaction executed on both NSE and BSE.
Fortis Healthcare completed its divestment of stake in - Fortis Hoan My Medical Corporation to Vietnamese hospital Viva Holdings for $80 Mn. PE firm ICICI venture was acquiring financial service firm Anand Rathi’s stake in Hyderabad-based Global Hospitals.
WellSpring Healthcare planned to raise R50-60 Cr from Asian Healthcare in order to fund its expansion plans; Chennai-based Curatio Healthcare was in talks with two PE funds managed by Tata Capital to raise R300 Cr which would provide partial exit to Fulcrum Ventures from Curatio with R45-R50 Cr.
|Readers' Comments||Post a Comment >>|
|2013-09-03||KMC Hospital - TPG, AMP Capital||Private Equity||-|
|06/12/2013||Private Equity||Council Capital||Emids Technologies Pvt Ltd||13.00||Completed|
|02/12/2013||Private Equity||Accel Partners||Portea Medical Private Limited||8.00||Completed|
|18/11/2013||Private Equity||Acumen Capital||Asian Health Alliance Private Limited||0.68||Completed|
|31/10/2013||Private Equity||Sequoia Capital India||Kids Clinic India Private Limited||16.28||Completed|
|Kavery Medical Centre and Hospitals Limited (KMC)|
|Dec 2, 2013...1|
|Dec 3, 2013...|
|Dec 5, 2013...|
|Dec 2, 2013...|
|Dec 3, 2013...|