TPG and AMP Capital in race to acquire Indian hospital

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
TPG and AMP Capital in race to acquire Indian hospital

TPG Growth (a specialist fund of former Texas Pacific Group) and AMP Capital are in race to acquire about 49% stake in Kavery Medical Centre and Hospitals, The Times of India (TOI) has reported.

TOI said that TPG Growth has issued a term-sheet to KMC Hospitals for a R180 Cr ($30 million) deal through acquisition of secondary and primary shares, while AMP Capital has extended an offer valuing the company at R350 Cr ($58 million).

Piramal's healthcare fund India Venture Advisors holds at least 30% equity in the hospital network.

Investment banks o3 Capital and Edelweiss are advising KMC on the latest deal-making.

Kavery Medical Centre & Hospital popularly known as KMC is a 400 beds multispeciality hospital, located at the heart of Trichy City. The hospital is known for its cutting edge technology equipments which are few of the best in the country. The hospital has been providing high quality care with the state of the art technology, with a team of dedicated medical specialists and well trained para medical personnel.

The healthcare company had unveiled an aggressive expansion plan - it had hoped to reach 1,000 beds by 2014 - four years ago. But those ambitions slowed down due to the economic slowdown of recent years.

List of country news

Country news

  • September 04, 2013

    Reliance Infra completes BOT toll project in Tamil Nadu

    Reliance Infrastructure said on Monday it has completed the widening of the 136-km Salem-Ulundurpet (SU) stretch of its Rs 1,061-crore (US$156 million) highway project in Tamil Nadu. Read more
  • September 05, 2013

    India approves DBFOT road project in state of Haryana

    The Indian Cabinet Committee on Economic Affairs (CCEA) has given its approval for four laning of the Kaithal - Rajasthan border section of National Highway-152/65 in the state of Haryana, north India, under the National Highways Development Project (NHDP) Phase IV, on Design, Build, Finance, Operate and Transfer (BOT/DBFOT) basis in Build-Operate-Transfer (BOT) mode of delivery. Read more
  • September 10, 2013

    Larsen & Toubro wins US$200 million road PPP project in Odisha

    Odisha Government approved the Rs 1292.56 crore (US$200 million) State Highway No.10 (Sambalpur - Rourkela) project on September 5th. Read more
  • September 11, 2013

    India launches PPP tenders for Chennai and Lucknow airports

    The Indian Ministry of Civil Aviation has launched a Request For Qualification (RFQ) for the Operation, Management and Development of Chennai and Lucknow airports on Public Private Partnership (PPP) basis. Read more
  • September 12, 2013

    IL&FS completes Pune - Solapur road PPP project

    IL&FS Transportation Networks Ltd has informed the Bombay Stock Exchange (BSE) that on August 23, 2013 the National Highways Authority of India issued the Provisional Completion Certificate for the Pune-Solapur Road Project which was awarded to the Company on DBFOT (Toll) basis under NHDP phase III.

    Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.