Other Private Equity/Strategic Investments
4 PE firms shortlisted for minority stake sale in maternity clinic chain Cloudnine
Global private equity firms TPG Capital, Advent International, CVC Capital Partners and Permira have been shortlisted to acquire a minority stake in Bengaluru-based maternity and paediatric hospital chain Cloudnine . The transaction is expected to value the firm at about USD 1.2 Billion. The deal is expected to involve a full exit for the existing investor True North, while other shareholders are likely to retain their positions.Founded in 2006 by neonatologist Dr. R. Kishore Kumar along with co-founders Rohit M.A., M. Ramachandra, and Vidya Kumar, Cloudnine operates a network of over 40 centers across Indian cities.The firm plans to use proceeds from the stake sale and the issuance of fresh primary shares to support its capital requirements and growth, following the integration of the acquired assets, which will expand its footprint to over 55 centers.
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