India-based hospital group Max Healthcare and PE firm KKR are the bidders still left in the race to acquire another India-based hospital group, Care Hospitals.
Five of the largest UK university hospitals, with a total revenue of £6.2bn, have come together to compete more effectively in the international market for hospital and medical consulting as the King’s International Consortium (KIC). But will they be able to compete with the big US academic medical centres which dominate international tertiary medicine, or with Korean and Indian players who offer lower cost and more flexible hospital management?
Many emerging market hospital groups seem a hot ticket at the moment. They have the stability which comes with hospitals, married to far more growth than you might expect in Europe, but the workforce war is making investors think twice. HBI speaks to two experts to learn more about how in-house training is proving to be a solution to workforce woes.
Multiple news outlets say private equity giant Blackstone is the sole remaining bidder for Indian hospital chain Care Hospital. Sources close to the company tell a different story.
UK-based group Care Fertility continues to expand its international footprint following its acquisition by PE firm Nordic Capital in February, with acquisitions in Spain and the US. HBI chats to Alfa Chan, partner at Nordic, to find out more.
KIMS Health, one of the largest hospital groups in South India, is up for sale. Due diligence has begun after a first round of bids which HBI understands included India's fourth largest operator Max Healthcare, as well as big international PE investors Blackstone and CVC Capital. Binding bids are expected next month.
Global Health Ltd, the parent company of Indian hospital chain Medanta, closed subscription for its IPO on Monday, with a valuation of 22,060m rupees ($274m). The share price has been set at 319 Rs ($3.96). The IPO will consist of new shares worth 5,000m Rs ($62m), and an offer-for-sale of up to 50.8m Rs ($0.63m) worth of shares.
Indian hospital chain Care Hospitals is the subject of a US$1bn+ bidding war between PE firm KKR, Singaporean state holding company Temasek Holdings, and Indian hospital chain Max Healthcare.
Indian health care is seeing a flurry of activity. Evercare-owned Care Hospitals is reportedly up for sale in India, while IHH Healthcare Bhd has expressed renewed interest in India after the Indian Supreme Court passed judgement in relation to its contentious dealings with Fortis. Meantime, the largest shareholder in India's second largest eye hospital has sold its stake.
US private equity player KKR has solid its entire stake in India-based hospital chain Max Healthcare, marking its exit from the group, for around Rs9,200 crore. The deal marks its largest exit from an Indian firm, and is the largest single block deal done by any PE firm in India.
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