Once the deal is completed, the control of the hospital will come under KKR Group as it will then hold the controlling stake
KOCHI: In a mega deal, Asian Fund IV, an arm of global private equity firm KKR &Co is acquiring the controlling 70 per cent stake in Kozhikode-based Baby Memorial Hospital (BHM) for Rs2,000 crore.
The PE company has not yet disclosed the financial and other details of the deal. However, market sources told businessbenchmark.news KKR will acquire around 70 per cent stake in the multi -speciality hospital chain which has an estimated net worth of around $300 million (Rs2,500 crore)
Once the deal is completed, the control of the hospital will come under KKR Group as it will then hold the controlling stake.
The deal will enable Baby Memorial Hospital to enlarge its footprint to across the country through both organic and inorganic means, hospital chain claimed in statement.
Akshay Tanna, Partner and Head of India Private Equity, KKR, said, “Our investment in BMH reflects our continued thematic focus on healthcare in India. We are pleased to be strategic partners with Dr. K G Alexander and family through this investment, which will aid BMH in expanding its network of hospitals and continuing to invest in medical infrastructure so that its medical services can reach more patients in India. We look forward to drawing from KKR’s network and deep healthcare expertise to take BMH to its next phase of growth and deliver greater impact to its communities.”
Baby Memorial Hospital, founded in 1987 by Dr. K G Alexander, is multi-specialty hospital chains in Kerala, with a capacity of 1,000 beds across hospitals in Calicut and Kannur.
BMH provides services with specialized treatment across 40 medical and surgical departments including cardiology, oncology, neurology, gastroenterology, pediatric and orthopedic care.
Dr. K G Alexander, Founder and Chairman of Baby Memorial Hospital, said, “KKR’s investment in BMH is a testament to our unwavering commitment to delivering accessible and quality healthcare services for all.”
Dr. K G Alexander, Founder and Chairman of Baby Memorial Hospital, said, “KKR’s investment in BMH is a testament to our unwavering commitment to delivering accessible and quality healthcare services for all.”
KKR makes its investment from its Asian Fund IV. The transaction in the healthcare sector in India and across Asia Pacific includes, Max Healthcare, Healthium, an Indian medical devices company; Infinx, a tech-enabled healthcare revenue solutions provider; JB Pharma, Gland Pharma, and more.
