India

 

Apax Partners halts new investments into healthcare assets

Apax Partners, a global private equity firm based in London, has decided to stop new investments into healthcare assets as it sees fewer opportunities in the industry. The firm will now no longer have a dedicated healthcare team and will reassign the vast majority of the members to other roles, according ‘to an update to its limited partners’ seen by Bloomberg News. The firm will keep investing in ‘healthcare-adjacent businesses’.
October 14, 2024

Investment opportunities on the rise in India’s robotic surgery sector

Robotic surgery in India has seen a lot of growth over the past decade. According to the Clinical Robotic Surgery Association of India, approximately 60,000 robotic-assisted surgeries are performed annually by more than 1,500 surgeons across specialties including general surgery, oncology, nephrology, pulmonology, cardiology, gynaecology, and orthopaedic surgeries.
October 10, 2024

As healthcare cyber attacks rise, what key questions should PE investors ask?

On September 20th, Reuters reported that Star Health, India’s top health insurer, suffered a massive cyber attack, exposing sensitive data—names, addresses, phone numbers, and medical records—of over 31 million customers on Telegram chatbots. With a market capitalisation exceeding $4 billion, Star Health and Allied Insurance has a significant presence in the industry. Star Health has not responded to an HBI request for comment.
September 27, 2024

India’s hospital merger between Aster DM Healthcare and Blackstone-TPG backed Care Hospitals: here’s what we know

On August 9, HBI reported on a potential merger between Aster DM Healthcare, a Dubai-based multinational hospital group with operations in Bengaluru, and Hyderabad-based Care Hospitals, owned by PE firms Blackstone and TPG. If completed the merger may lead to the creation of a new entity — possibly named Aster DM Quality Care Pvt. Ltd. — jointly managed by Aster DM’s promoters and executives from Blackstone and Care Hospitals. Both organisations currently operate approximately 4,000 beds each, with any merged entity commanding a network of over 9,000 beds. Any deal would make the new entity India’s third-largest hospital network, behind only Apollo Hospitals and Manipal Health Enterprises.
September 20, 2024

Max Healthcare acquires 64% stake in India’s Jaypee Healthcare for $20 billion

This acquisition includes a 500-bed facility, strengthening Max Healthcare's position among the top 5 for-profit hospitals in the country. Max Healthcare Institute Ltd, a New Delhi-based for-profit hospital chain, has partnered with the Lakshdeep Group to acquire a 64% stake in Jaypee Healthcare Ltd (JHL) for ₹1,660 crore ($20 billion). Lakshdeep Group, currently undergoing Corporate […]
September 18, 2024

Hillhouse and EQT vie to acquire global BPO provider GeBBS

The sale of US-based healthcare BPO firm GeBBS Healthcare Solutions has entered its final stage, with Asian and European funds competing for acquisition. Hong Kong’s Hillhouse Investment has emerged as the frontrunner and is reported to have offered approximately USD $870 million for a 100% stake, slightly ahead of Sweden’s EQT Partners' bid of $855-860 […]
August 29, 2024

NY-based PE firm Warburg Pincus exits India’s pharmacy chain MedPlus

Warburg Pincus, a global private equity firm based in New York, exited Indian pharmacy chain MedPlus Health Services on August 26, selling its entire 11.4% stake for approximately $100 million through an open market transaction. The sale was carried out by its Mauritius-based unit, Lavender Rose Investment Ltd.
August 29, 2024

KKR, TPG Capital, and Apax Partners front-run the acquisition of India’s cardiac stent maker SMT

US-based global investment company KKR, private equity firm TPG Capital, and British private equity firm Apax Partners are reportedly exploring an investment in India’s Sahajanand Medical Technologies (SMT), Economic Times reported. SMT is a developer and manufacturer of minimally invasive coronary stent systems, valued at Rs 3,500-4,000 crore (~$420-480 million USD). Alongside KKR, TPG Capital, […]
August 23, 2024

HBI News Round Up, Friday 23rd August 2024

In this HBI News Round Up we cover Hallo Healthcare Group’s exit from the healthcare services sector, Genesis MedTech’s sale of its subsidiary, JC Medical Inc to Edwards Lifesciences, biopharmaceutical company, Vertex Pharmaceuticals obtaining of a licence for CASGEVY in the UK, disease risk detection and preventative health company, Nightingale Health’s attaining of UK Conformity […]
August 23, 2024
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