Olympus Capital Asia Investments has picked up minority stake in Dubai-based DM Healthcare for Rs 500 crore.

The investment is for expanding DM Healthcare's presence in India and for part purchase of the existing investor India Value Fund's stake in the company.

DM Healthcare is a healthcare service provider in the GCC region promoted by Dr Azad Moopen. The company owns and manages the Aster and Medcare brands of hospitals, clinics and pharmacies in the UAE, Qatar, Oman and Saudi Arabia. In India, the Malabar Institute of Medical Science in Calicut and Kottakkal are the associate hospitals of the group.

The DM Healthcare group also has partnered with a secondary care hospital in Kolhapur and a hospital in Pune. The group is also building a 540-bed quaternary care hospital complex – Aster Medcity – in Kochi.

Olympus Capital Holdings Asia is a mid-market private equity firm focused on Asia. The firm has invested $1.5 billion in over 35 companies throughout Asia, including India, China, Japan and South Korea. Olympus Capital Asia Investments is the international investment company backed by funds managed by Olympus Capital Holdings Asia.

Veda Corporate Advisors was the exclusive advisor to DM Healthcare in this deal. Veda had also advised the company in its previous fundraising India Value Fund in 2008.

swethak@thehindu.co.in

(This article was published on January 26, 2012)
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