General Atlantic invests $130 mn in KIMS Hospitals
KIMS announced that it has received a strategic growth investment from General Atlantic with the equity firm making the investment in a combination of primary capital and secondary purchases to acquire a significant minority stake in the company said a statement.
Set up in 2004 by Dr. Bhaskar Rao a renowned cardiothoracic surgeon KIMS Hospitals has grown to become one of the largest corporate healthcare groups in southern India with seven multi-specialty hospitals across the region and a capacity of over 2 500 beds.
"We are thrilled to partner with General Atlantic as we embark on our next phase of growth to strengthen our presence in underserved geographies. Given General Atlantic s deep experience of investing in healthcare globally and its network of relationships across leading global healthcare institutions we are confident that his new association will help KIMS Hospitals deliver on its goal of bringing quality medical care modern medical facilities and services within the reach of the common man " said Bhaskar Rao MD and CEO of KIMS Hospitals.
"The combination of an acute shortage in quality healthcare infrastructure and a strong focus from the government to make quality healthcare more accessible has created compelling secular tailwinds to drive growth for high-quality corporate hospital networks. We believe KIMS Hospitals is uniquely positioned to benefit from these trends " said Sandeep Naik Managing Director and Head of India and Asia-Pacific at General Atlantic.
General Atlantic has been active in India since 1999 and has invested over $2 billion in the India and Asia-Pacific region as of December 31 2017. It focuses on investments in healthcare technology consumer and financial services.
--IANS ms/vd
