Siemens initiates exit from American Oncology Institute in Rs.2,000-Cr deal

Siemens Healthineers is to divest its stake in the Hyderabad-based cancer care chain, American Oncology Institute (AOI), in a transaction estimated to be valued between Rs.1,500-Cr and Rs.2,000-Cr. The company has engaged Alvarez & Marsal as the exclusive financial advisor to the transaction. Several private equity firms have been approached as potential bidders, and Healthcare Global Enterprises, a listed cancer care chain backed by KKR, has also been identified as a prospective buyer.Founded in 2012, AOI operates 16 hospitals across India, including a flagship facility in Hyderabad, and maintains one center in Sri Lanka. The hospital chain previously operated under Cancer Treatment Services International, which was acquired by Varian Medical Systems in 2019. Siemens Healthineers subsequently gained control of the network through its 2021 acquisition of Varian.