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Advent Intl to invest Rs 523 cr in CARE Hospitals

Our Bureau Mumbai | Updated on November 15, 2017 Published on April 02, 2012




Private equity firm Advent International is set to invest Rs 523 crore in CARE Hospitals. It will acquire shares from some of the existing investors and inject additional capital into the business.

This investment will help the business “consolidate its position in the healthcare sector and capitalise on the growth opportunities,” said a release from Advent. The business will continue to be run by the founders of CARE.

“Our partnership with Advent provides us with the required resources to support and expand our presence,” said Dr B. Soma Raju, Founder of CARE Hospitals

CARE is a multi-specialty hospital chain in South India with strength in cardiac care, neurology, nephrology and general medicine. The hospital chain is ranked number 5 by number of beds and by revenue in India. Apart from Hyderabad, it has centres in Vishakhapatnam, Raipur, Bhubaneshwar and Nagpur, Surat and Pune. From a 100-bed cardiac care hospital in 1997, CARE has become a multi-specialty hospital group comprising 1,590 beds.

Advent International, which raised $26 billion since 1984, invested in 30 healthcare firms apart from other projects.

“The partnership of CARE and Advent creates the potential to build one of the best healthcare groups in India,” Dr Vikram Chhatwal, former Chief Executive Officer of Reliance Health, said. He worked with the team extensively on the CARE investment opportunity.

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>kurmanath @thehindu.co.in

Published on April 02, 2012
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