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Indian online healthcare platform Practo to go into homecare and telehealth

Indian start-up Practo, which offers online appointment and practice management tools to patients and doctors, is to launch new platforms targeting homecare and telehealth. Practo bought several of its competitors after raising $120m in 2015 and is now active in 15 countries across South East Asia. We spoke to its managing director and co-founder, Shashank ND.
February 23, 2016

Aster DM reaffirms IPO pledge

The chairman and managing director of Aster DM, a diversified healthcare group spread across the Middle East, India and the Philippines, says it will IPO in India this year. A public listing has been expected for over a year now. Dr Azad Moopen also announced Rs 250 crore (US$37m) of investments in three Indian hospital projects in 2016.
February 12, 2016

Apollo continues to diversify

India’s largest hospital group, Apollo Hospitals, has launched a national reference lab in Hyderabad and announced plans to open 200 more labs and 1,000 collecting centres in the next five years. The subsidiary, Apollo Health and Lifestyle, will invest between INR 150 crore (US$22m) and INR 200 crore (US$30m) predominantly in tier 2 cities
February 12, 2016

Apollo sells stakes

German insurer, Munich Re, has almost doubled its stake in an Indian JV with the hospital group Apollo, Apollo Munich Health Insurance. Munich purchased another 23.3% of the equity for 163.5 Crore INR (US$24m), taking its stake to 48.7%. Apollo is also selling a 30% stake in its outpatient business, Apollo Health and Lifestyle (AHLL), for around 500 crore INR (US$73m). KKR, Carlyle and Apax are all said to be in the running.
February 1, 2016

Interview: CARE Hospitals, CEO, Dilip Jose

CARE Hospitals, the Indian chain, has just been bought by the private equity group, Abraaj, in a deal that is rumoured to value the enterprise at 1,850 crores INR (US$273m). Here we speak to CARE’s CEO, Dilip Jose, about future plans and how he expects CARE to function within Abraaj’s international network.
January 22, 2016

Abraaj puts the jewel in its crown

Global private equity house, Abraaj, which has US$9bn under management, has just bought a 76% stake in CARE Hospitals in a deal which sources say values the enterprise at 1850 Crore INR (around US$273m), capping an offer of around 1800 Crore INR (US$266m) from Temasek. Analysts say that Abraaj is paying around 17 times trailing EBITDA, which is less than the multiples of the large quoted groups. But what are its plans?
January 14, 2016

Temasek in pole position for CARE Hospitals

Singapore’s sovereign wealth fund, Temasek Holdings, is set to edge out a matching bid from Abraaj in the race for the Indian group CARE Hospitals, reports the Indian press. CARE’s private equity owners, Advent International, will sell its 72% stake for INR 1800 crore (US$270m), that’s a significant return on the INR 680 crore (US$105m) it paid in 2012.
December 18, 2015

Narayana IPO gets away

After an eternity of delays, India’s healthcare operators are finally getting their IPOs off the ground. Last week the lab group, Dr Lal Pathlabs, saw its IPO 33 times oversubscribed. This week it was the turn of Narayana Hrudayalaya, the specialist cardiology chain run by Dr Devi Shetty. It has already raised US$27.6m from 15 cornerstone investors, at the upper-band price of INR 250 (US$3.7) a share.
December 18, 2015

Interview: Rajat Goel, CEO and Co-Founder of Eye-Q Hospitals

The Indian eye-care chain, Eye-Q Hospitals, is expanding fast. In March, it secured US$10 million of investment from the IFC and existing backers Helion and Nexus Venture Partners. This will help to build 65 hospitals in India within the next five years. But Eye-Q is also targeting virgin territory such as smaller cities and the African market. We spoke to Goel about the challenges of India and why he’s decided to look abroad.
December 18, 2015
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