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TPG’s India healthcare platform goes for internal rejig as GIC buying majority stake
VCCircle
·
5m ago
Medial
Asia Healthcare Holdings (AHH), a healthcare platform backed by TPG and GIC, is undergoing an internal reorganization. GIC, the Singaporean sovereign wealth fund, is in the process of acquiring a majority stake in the company. AHH consists of three single-speciality healthcare chains: Motherhood, Nova IVF, and another specialized facility. The restructuring aligns with GIC's investment, aiming to enhance operational efficiency and expand AHH's presence in the healthcare sector.
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Related News
GIC to acquire larger stake in Asia Healthcare Holdings from majority owner TPG
Livemint
·
8m ago
Medial
Singapore sovereign fund GIC is reportedly set to increase its stake in Asia Healthcare Holdings (AHH) ahead of a potential public listing of the healthcare platform in the next year or two. GIC is said to be acquiring an additional 15% stake in AHH from majority owner TPG, making it the biggest shareholder of the platform. AHH, owned by global private equity firm TPG, is valued between $800 million and $900 million. The investment highlights the growing trend of healthcare companies going public in India due to favourable market conditions.
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GIC acquires majority stake in Asia Healthcare Holdings with $150 million investment
Livemint
·
7m ago
Medial
Singapore sovereign fund GIC is set to invest an additional $150 million in Asia Healthcare Holdings (AHH), making it the largest shareholder. This follows GIC's initial investment of $170 million in the healthcare platform earlier this year. The investment values AHH at around $800-900 million. With this transaction, private equity company TPG will become a minority stakeholder and GIC will hold the majority stake in AHH. The platform, which owns Motherhood Hospitals, Asian Institute of Nephrology and Urology, and Nova IVF, focuses on single specialty hospitals and plans to expand its offerings in the future.
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Singapore's GIC smells huge AI opportunity for India
Livemint
·
6d ago
Medial
Singapore's GIC considers AI foundational to its investment strategy, focusing on India for its tech talent and digitization. CIO Bryan Yeo highlights their investment in AI adopters, particularly in Indian starters, and initiatives like the Bridge Forum to connect startups with global firms. Despite geopolitical uncertainties, GIC sees India’s potential in AI, emphasizing the importance of digitalization across sectors like finance and healthcare. GIC also uses AI to enhance internal decision-making processes.
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Platinum Equity makes first India bet; Flipkart ropes in former SoftBank exec
VCCircle
·
1y ago
Medial
Platinum Equity Advisors has made its first investment in India, acquiring a majority stake in Mumbai-based pharmaceutical company Inventia Healthcare. The US-based buyout fund's stake in the company is valued at Rs 2,500 crore ($300 million). In other news, Flipkart, an e-commerce platform owned by Walmart, has hired former SoftBank executive Vikas Agnihotri as its General Manager of Corporate Development. Agnihotri will be responsible for leading mergers and acquisitions, investments, and partnerships for Flipkart.
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GIC mints money as Spain’s Ferrovial buys into IRB InvIT for $810 mn
VCCircle
·
1y ago
Medial
Singapore sovereign wealth fund GIC is selling almost half its stake in IRB Infrastructure Trust, an infrastructure investment trust in India, for €740m ($810m). GIC is offloading 24% of the units in the InvIT and a similar stake in its investment manager to Cintra, a subsidiary of Spanish infrastructure development company Ferrovial. GIC had acquired a 49% stake in the InvIT in 2019 for $621m. Following the partial exit, GIC retains a 25% stake in the InvIT and the investment manager.
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OrbiMed, GIC add another healthcare firm to India portfolios
VCCircle
·
6m ago
Medial
Singapore's GIC and New York's OrbiMed have expanded their investments in India's healthcare sector, a field attracting considerable investor interest. GIC, a leading sovereign wealth fund and private equity-style investor, teamed up with healthcare-focused OrbiMed to finance an Indian healthcare company, signaling strong confidence in the market's growth potential. This move highlights the increasing allure of healthcare investments in India for global investors seeking promising opportunities.
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Grapevine: PAG, Advent, Manjushree, Bank of America, and Abundantia in news
VCCircle
·
8m ago
Medial
PAG has acquired a majority stake in a packaging solutions company, while Abundantia Entertainment is looking to raise funds. Bank of America is facing an internal probe into alleged misconduct, causing three senior dealmakers in its India unit to leave.
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Blackstone enters Indian healthcare services with Care Hospitals buy
Reuters
·
1y ago
Medial
Blackstone is set to acquire a majority stake in Care Hospitals, an Indian healthcare service provider, from TPG. The U.S. private equity firm will commit $1 billion and hold over 75% in the hospital chain, as it enters India's healthcare sector in response to growing demand for private healthcare post-pandemic. Care Hospitals will also acquire a majority stake in KIMSHEALTH to become one of India's largest hospital platforms with 23 facilities and over 4,000 beds. The total value of the deals is estimated to be between $1.3 billion and $1.5 billion.
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IndiGrid backer GIC teams up with Sterlite for another power transmission platform
VCCircle
·
1y ago
Medial
Singapore's sovereign wealth fund, GIC, and Vedanta Group's Sterlite Power have formed a joint venture to develop and operate power transmission projects in India. Sterlite will hold a 51% stake in the platform, with GIC owning the remaining 49%. The partnership aims to play a leading role in India's transmission sector, starting with a $13bn bid pipeline. GIC has been actively investing in Indian infrastructure, with previous deals including collaborations with Genus Power and ESR. Sterlite Power is a private sector power transmission infrastructure developer with a portfolio covering over 15,350 circuit km of transmission lines in India and Brazil.
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Manipal Hospitals backer Novo Holdings names former KKR exec as India head
VCCircle
·
6m ago
Medial
Novo Holdings, a Danish investment firm and investor in Manipal Hospitals and Qure.ai Technologies in India, has appointed Karthik Narayanaswamy as its new India head. This move aims to enhance the firm's activities in the South Asian market. Novo Holdings is known for its healthcare investments and owns a majority stake in the weight-loss drugmaker, Novo Nordisk.
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