Ontario Teachers' Pension Plan has announced an agreement to acquire a majority stake in Sahyadri Hospitals Group (Sahyadri) from the Everstone Group. Everstone Group along with key management and founders will retain minority stakes in Sahyadri.

Sahyadri owns and operates 8 hospitals with a cumulative capacity of 900 beds and 300 critical-care beds. It is the largest hospital network in the Indian state of Maharastra. Sahyadri employs 2,000 clinicians and 2,600 supporting staff across its network of hospitals.

The transaction is subject to customary closing conditions and is expected to be completed in Q4 2022.