PE-VC Fund Investments
Ascent Capital invests Rs.150-Cr in Kerala-based Daya General Hospital
In the first investment from its new fund, growth equity-focused Ascent Capital has invested INR 150 crore in Thrissur-based Daya General Hospital .Founded in 2001 and led by its Managing Director Dr. Abdul Azeez, Daya runs 4 units in Kerala - a 300 bedded multi-speciality tertiary care hospital in Thrissur, a 130 bedded NABH accredited hospital in Kunnamkulam, a 70 bedded hospital in Palakkad and manages an Emergency Care Center in Valapad. Daya currently employs 1,500 people across clinical and non-clinical functions.Daya has made a 5-year expansion plan within Kerala entailing an investment over INR 500 crore. It plans to triple the number of beds from 500 to 1500, including by building new hospitals and expanding existing facilities. This includes a Cancer Care/Oncology Super Speciality Hospital in Thrissur by 2026; starting two hospitals in the neighbouring districts of Thrissur in the next two years; expanding the facility at Thrissur by adding more beds and developing into a quaternary care hospital.Led by its MD and CEO Rajakumar, Ascent Capital has previously made successful investments in hospital platforms such as KIMS Kerala as well as high-growth companies like Bigbasket, FreshToHome, Alivira Animal Health, and Acko.
For FY24, Daya General Hospital had reported about INR 147 Cr in Operating Income and about INR 11.3 Cr in PAT.
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