M&A
KKR-backed Baby Memorial to acquire 60% stake in Star Hospitals for Rs.1,800-Cr
Kozhikode, Kerala-headquartered Baby Memorial Hospital, backed by US-headquartered global investment firm KKR, is to acquire a 60% controlling stake in Hyderabad-based Star Hospitals ' parent company, Unimed Healthcare. The transaction is valued at INR 1,800 crore, which pegs Star Hospitals' valuation at INR 3,000 crore.KKR will infuse funds into Baby Memorial Hospital to finance this acquisition. Alvarez and Marsal acted as the financial advisors to Star Hospitals for the deal.Star Hospitals was founded by cardiologist Gopichand Mannam. It operates a flagship facility in Banjara Hills, Hyderabad, and a second facility in Nanakramguda.
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