Key Points
Blackstone on Monday said it has inked a pact to acquire a majority stake in Hyderabad-based CARE Hospitals from Evercare, a platform of TPG RISE funds, for USD 700 million (around Rs 5,827 crore), thus foraying into country's healthcare services sector..
Private equity funds managed by Blackstone have acquired 72.5 per cent in Care Hospitals at an enterprise value of Rs 6,600 crore...
Besides, in a separate deal, CARE Hospitals and TPG will acquire an 80 per cent stake in Kerala-based KIMSHEALTH entailing an outgo of around USD 400 million, a source confirmed...
"We are pleased to make Blackstone's first investment in India's healthcare services sector and partner with TPG to create one of the largest healthcare platforms in India," Blackstone Private Equity Managing Director Ganesh Mani noted...
CARE Hospitals and KIMSHEALTH are trusted brands in the Indian healthcare space with a reputation of prioritising patients and have a track record of excellence in medical ethics and clinical outcomes, he added...
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