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Grapevine: TPG, KKR eye CVCโs stakes in hospital chain; Verlinvest plans Sula exit
VCCircle
ยท
1y ago
Medial
Private equity firms EQT, TPG Capital, and KKR are considering acquiring CVC Capital's controlling stake in the cancer hospital chain Healthcare Global Enterprises (HCG). The deal may also include an open offer for an additional 26% stake in the company.
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Grapevine: PE-backed firms eye Sharp Sight; KKR pauses Lighthouse Learning sale
VCCircle
ยท
12m ago
Medial
The founders of Sharp Sight Eye Hospitals are considering selling a controlling stake, which would allow private equity investor InvAscent to exit the company. Investment bankers have been invited to bid for the opportunity to raise fresh capital and facilitate the exit. This comes as PE-backed eyecare chains ASG Eye Hospital and Eye-Q Vision plan to merge, eyeing potential consolidation in the industry. In other news, KKR has decided to temporarily pause the sale of Lighthouse Learning, a move that may have been influenced by the current market conditions.
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Dr Agarwals Health Care plans IPO for $300 million
Livemint
ยท
1y ago
Medial
Dr Agarwals Health Care Ltd (AHCL) is reportedly planning a public share sale worth $300-400 million later this year. The company, which is majority-owned by TPG and Temasek, is expected to receive a valuation of $1.8-2 billion through the IPO. The offering will likely involve a mixture of primary and secondary fundraising, with TPG and Temasek potentially seeking a partial exit. The parent company will list separately, and a merger with its subsidiary, Dr Agarwals Eye Hospital Ltd (AEHL), will occur afterward. AHCL operates eye care services in multiple states across India.
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Verlinvest to double bets in India's growing consumer market
VCCircle
ยท
10m ago
Medial
- Verlinvest plans to double its annual investment in India within three years, focusing on healthcare and lifestyle companies. - The company already has stakes in Indian yogurt-maker Epigamia and coffee chain Blue Tokai. - Verlinvest aims to increase its investments in India as the country's middle class becomes more aspirational. - Healthcare and lifestyle companies currently make up less than 10% of Verlinvest's Indian portfolio. - The company faces challenges such as longer investment returns and a longer exit period compared to other markets, as well as the depreciating rupee. However, it sees India as offering a greater growth opportunity with attractive returns.
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KKR may do a Radiant with BMH, says hospital chain's CEO Manian
VCCircle
ยท
10m ago
Medial
KKR may consider joining forces with the Baby Memorial Hospital Group (BMH), according to Harish Manian, the CEO of BMH. KKR previously invested in Radiant Life Care in 2017 and used it to acquire Max Healthcare before making a $2 billion exit in 2022. Manian believes that KKR could look towards expanding its healthcare portfolio further with a potential partnership with BMH.
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Grapevine: KKR mulls JB Pharma sale; Bharti eyes Del Monte JV exit
VCCircle
ยท
1y ago
Medial
Private equity firm KKR is considering selling its majority stake in JB Chemicals & Pharmaceuticals Ltd. KKR is reportedly hiring financial advisers to evaluate the potential sale. Meanwhile, Bharti Group is also exploring options to exit its joint venture with Del Monte, a fruit and vegetable processing company.
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KKR may get an exit window as logistics portfolio firm revives IPO plan
VCCircle
ยท
4m ago
Medial
US-based private equity firm KKR & Co. is considering partially exiting its investment in an Indian storage and supply chain services provider. This decision follows the company's revival of plans for an initial public offering (IPO), according to sources familiar with the situation. KKR holds a majority stake in the Mumbai-headquartered logistics firm. The upcoming IPO could provide KKR with an opportunity for an exit, reflecting strategic shifts in their investment portfolio.
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TPG, HBM retune India exit plan in benchmark-beating move
VCCircle
ยท
8m ago
Medial
US private equity firm TPG and Swiss healthcare investor HBM Partners have altered their exit strategy for an Indian investment in a move that is expected to outperform traditional benchmarks set by alternative investment firms. Rather than completely exiting their positions, TPG and HBM will sell a portion of their stakes in the company. The revised plan is aimed at maximizing returns in the South Asian market.
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The big hospital merger: Aster DM, Care to sign deal next month
Livemint
ยท
1y ago
Medial
Bengaluru-based Aster DM Healthcare and Hyderabad-based Care Hospitals, both backed by Blackstone, are set to merge next month, according to sources. The new entity, potentially named Aster DM Quality Care Pvt. Ltd, will become India's third-largest hospital chain with close to 9,900 beds. The deal is currently under due diligence, with a share swap ratio of 50:50 agreed upon. The Moopen family, Blackstone, TPG, and other investors will own stakes in the combined entity, and an open offer is expected after the merger. The merger will have to be approved by the National Company Law Tribunal.
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Grapevine: PEs eye India's largest cardiac stent maker; O2 Power race heats up
VCCircle
ยท
11m ago
Medial
Private equity firms such as KKR, TPG Capital, and Apax Partners are considering investing in India's largest cardiac stent maker, Sahajanand Medical Technologies (SMT). The evaluation values SMT at around Rs 3,500-4,000 crore. Another global private equity firm and Mumbai-based pharmaceutical company, Alkem Laboratories, are also reportedly interested in the deal. The potential investment highlights the growing interest in the healthcare sector in India.
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General Atlantic, KKR, EQT eye PE deals; FirstCry, Anthem in IPO news
VCCircle
ยท
1y ago
Medial
General Atlantic and KKR are competing for a majority stake in Asian Institute of Medical Sciences (AIMS), with the deal potentially valuing the hospital chain at $179 million. Alongside this, private equity firms EQT, General Atlantic, and KKR are also exploring deals in the Indian market. In IPO news, FirstCry and Anthem are reported to be considering initial public offerings (IPOs).
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