Paras Healthcare raises Rs 275 crore from Creador
New Delhi: Paras Healthcare said it has raised Rs 275 crore from an affiliate of Creador LLP to fund the company's growth and expansion plans.
Paras operates three specialised care or tertiary hospitals and two mother and child care hospitals.
The company's managing director Dharminder Nagar said: "With Creador's support we aim to make our vision of envisaging a healthcare revolution in North India a reality."
Today some of the oldest cities in North India have the weakest healthcare infrastructure, he added.
Creador Advisors India LLP Managing Partner Anand Narayan said that in a landscape where 70 per cent of healthcare costs are currently paid out of pocket, the vision and operational aspects of Paras Healthcare are relevant.
"We are certain that this association shall be fundamental in the evolving landscape of Indian healthcare," he said.
Avendus Capital was the financial advisor for this transaction and Khaitan & Co was the legal counsel.