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Healthcare focussed venture capital HealthQuad has completed its exit from the Asian Institute of Nephrology and Urology (AINU), its fourth exit from its Fund-I portfolio.
The exit is part of a majority acquisition of AINU by Asian Healthcare Holdings, a single-speciality healthcare investment and operating platform, backed by TPG Growth and GIC, for a total consideration of ₹600 crore. The fund has achieved a 4x return on investment with the exit.
Last September, AHH had said it would make an investment of ₹600 crore in AINU, through a mix of primary and secondary infusion. The transaction was to give AHH about 70 per cent equity in AINU.
HealthQuad invested in AINU in 2016 to help build a pan-India single speciality hospital chain focused on bridging the supply gap within the nephrology and urology segment, it said. AINU has since scaled-up from a single flagship facility in Hyderabad to seven facilities across Hyderabad, Chennai, Siliguri and Vishakhapatnam, increasing bed capacity five times.
AINU was founded in 2013 by a team of urologists and nephrologists led by Dr C Mallikarjuna and Dr P C Reddy. It currently operates 500 beds across its network.
Dr Pinak Shrikhande, Managing Director, HealthQuad said, the partnership had increased access to specialised healthcare across the country, and accelerated the adoption of technology. Dr Mallikarjuna C, AINU Chief Consultant Urologist and Managing Director, added, the journey so far had made it a leading renal-sciences-focused single speciality healthcare chain, and now it would take that journey ahead with Asian Healthcare Holdings.
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