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Ahmedabad, June 30 A global consortium of investors led by private equity player, Arpwood Partners, has picked up a controlling stake in Sterling Addlife India Pvt Ltd, which operates a chain of multi-specialty hospitals under the brand Sterling Hospitals in Gujarat.
Girishbhai Patel, the founder of Sterling Hospitals chain, having 6 NABH-accredited hospitals across four cities in Gujarat, has retained a minority stake and will continue to be a mentor to the Sterling Hospitals.
Commenting on the new investors coming onboard Sterling Hospitals, Patel said, “The partnership with Arpwood is aimed at pursuit of medical excellence at Sterling Hospitals to serve Gujarat. I am confident that Arpwood will be a capable new custodian of Sterling.”
Patel founded Sterling Hospitals in 2001 and over the past 20 years, it has expanded to Ahmedabad, Vadodara, Rajkot and Gandhidham. Sterling Hospitals is amongst the first corporate hospitals with a 20+ year strong brand legacy. Out of six hospitals with combined bed capacity of over 1000, Sterling has two comprehensive oncology units.
A spokesperson from Arpwood Partners, said, “Our intent at Sterling Hospitals is to build on its legacy of trust with investments in high-calibre clinical talent, infrastructure upgrade and patient service experience, and deliver quality medical care to patients.”
“We will soon announce an experienced CEO who has had a long and distinguished record at one of the largest national healthcare chains,” the spokesperson said.
All the three founders of Arpwood have pursued post-graduate studies from Ahmedabad and their investment in Ahmedabad-headquartered hospital chain comes as a revival of their association with Gujarat.
Arpwood Partners is focused exclusively on mid-market buyouts and provides solutions for shareholder transition in high quality mid-market franchises. It looks at profitable market share expansion by enhancing the customer value proposition of its investee companies. Arpwood delivers on its objectives by bringing in high quality management talent and a culture of excellence in its portfolio companies, a statement said.
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