Hyderabad: Krishna Institute of Medical Sciences (KIMS Hospitals), a leading multi-disciplinary provider of healthcare services in Andhra Pradesh and Telangana, announced that General Atlantic, a leading global equity firm has invested over USD 130 million (over Rs 890 crore) in its company.
As part of the strategic growth investment, General Atlantic invested in a combination of primary capital and secondary purchases, to acquire a significant minority stake in KIMS Hospitals, which has a network of 7 hospitals across Andhra Pradesh and Telangana and a capacity of over 2,500 beds.
We are thrilled to partner with General Atlantic as we embark on our next phase of growth to strengthen our presence in underserved geographies, said KIMS Hospitals Managing Director and CEO Dr Bhaskar Rao, in a release here.
General Atlantic’s deep experience of investing in healthcare globally and its network of relationships across leading global healthcare institutions, we are confident that this new association will help KIMS Hospitals deliver on its goal of bringing quality medical care, modern medical facilities, and services within the reach of the common man, Dr Bhaskar, a renowned cardiothoracic surgeon, added.
Sandeep Naik, Managing Director and Head of India and Asia-Pacific at General Atlantic, said, “the combination of an acute shortage in quality healthcare infrastructure and a strong focus from the government to make quality healthcare more accessible, has created compelling secular tailwinds to drive growth for high-quality corporate hospital networks.
General Atlantic Managing Director Shantanu Rastogi, said “we are excited to partner with Dr. Rao and we will work closely with the Company (KIMS) on new initiatives and growth opportunities, with the objective to establish KIMS Hospitals as the leading destination for affordable healthcare in India.
General Atlantic which has been active in India since 1999, has invested over $2 billion in the India and Asia-Pacific region, as of December 31, 2017.