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True North, a leading PE fund, is to invest over $200 million in the Kerala Institute of Medical Sciences (KIMS) for the next phase of growth of the healthcare group across India and West Asia.
This investment will be for the stake held by Ascent Capital Advisors India Pvt Ltd and OrbiMed Advisors LLC and as a primary capital infusion to fund the growth plans of KIMS Group.
True North will hold around 40 per cent stake in India, a press release said.
MI Sahadulla, Chairman, KIMS Group, said the company hopes to continue growing and become one of the largest healthcare providers in India and West Asia in the next three to five years.
According to Satish Chander, Managing Director, True North, private equity has a key role in funding Indian healthcare services to address the sector’s supply-demand gap.
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