Krishna Institute of Medical Sciences (KIMS Hospitals) announced today global growth equity firm General Atlantic has invested over USD 130 million, in a combination of primary capital and secondary purchases, to acquire a significant minority stake in the company.
KIMS Hospitals is a leading multi-disciplinary provider of healthcare services in Andhra Pradesh and Telangana.
Set up in 2004 by cardiothoracic surgeon Dr Bhaskar Rao, it has grown to become one of the largest corporate healthcare groups in southern India, with seven multi-specialty hospitals across the region and a capacity of over 2,500 beds.
Dr. Rao, MD and CEO of KIMS Hospitals, said: "We are thrilled to partner with General Atlantic as we embark on our next phase of growth to strengthen our presence in underserved geographies."
Sandeep Naik, Managing Director and Head of India and Asia-Pacific at General Atlantic, said, "the combination of an acute shortage in quality healthcare infrastructure and a strong focus from the government to make quality healthcare more accessible, has created compelling secular tailwinds to drive growth for high-quality corporate hospital networks.
We believe KIMS Hospitals is uniquely positioned to benefit from these trends.
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