General Atlantic invests 890 cr in KIMS
In a major boost to healthcare sector in the city, Krishna Institute of Medical Sciences (KIMS) Hospital on Wednesday said that it received strategic growth investment of over $130 million (Rs 890 crore) from General Atlantic, a global growth equity firm.
Hyderabad: In a major boost to healthcare sector in the city, Krishna Institute of Medical Sciences (KIMS) Hospital on Wednesday said that it received strategic growth investment of over $130 million (Rs 890 crore) from General Atlantic, a global growth equity firm.
As part of the transaction, the equity firm has invested in a combination of primary capital and secondary purchases, to acquire a significant minority stake in the company.
Set up in 2004 by Dr Bhaskar Rao, a renowned cardiothoracic surgeon, KIMS Hospitals is one of the largest corporate healthcare groups in southern India, with seven multi-specialty hospitals across the region and a capacity of over 2,500 beds. The hospital focuses on delivering affordable healthcare services across metros and smaller cities.
Dr Bhaskar Rao said: “We are thrilled to partner with General Atlantic as we embark on our next phase of growth to strengthen our presence in underserved geographies. We are confident that this new association will help us deliver on the goal of bringing quality medical care, modern medical facilities, and services within the reach of the common man.”
Through this investment, the equity firm plans to work closely with the company on new initiatives and growth opportunities, with an objective to establish KIMS as the destination for affordable healthcare in India.
Sandeep Naik, Head of India and Asia-Pacific, 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, is driving growth for high-quality corporate hospital networks. We believe KIMS Hospitals is uniquely positioned to benefit from these trends.”