Kauvery Hospitals gets $70 mn investment from PE fund managed by IIFL AMC

Money will help company to expand business and expand capacity in South India

Sri Kauvery Medical Care (India), a leading hospital chain in South India, has raised $70 million from a private equity (PE) fund managed by IIFL Asset Management for a minority stake.

The investment will help Kauvery Hospitals, as the company is called alternatively, to expand business and likely move for an initial public offering (IPO) in the next three years. The chain is augmenting capacity in Chennai and Bengaluru, as it expands in select clusters in Tamil Nadu and Karnataka. The deal marks IIFL PE’s maiden investment in the multi-specialty hospitals segment.

Established in 1999 as a 30-bed hospital, Kauvery