Diagnostic chain Metropolis Healthcare today said the private equity firm Warburg Pincus has bought out the entire stake of ICICI Ventures in it for a consideration of $85-million.
"As part of this deal, ICICI Ventures has completely divested its holding in the company, which it acquired in 2006," Metropolis said in a statement.
The deal involves a primary and secondary component, and also includes additional capital that will be available to Metropolis to pursue acquisitions, the statement said.
The company said it will continue to seek attractive acquisition opportunities while expanding its delivery network and deepening its presence in current locations.
"Our association with ICICI Ventures over the past few years has been rewarding and we are delighted to welcome Warburg Pincus as our future partner," Metropolis Chief Executive and Executive Director Ameera Patel said.
