Private Equity PE-VC Fund Investments
Cloudnine Hospitals attracts $450-M from Permira, TPG via secondary deal
Source Cloudnine (opens in a new tab)Mint (opens in a new tab)
Permira and TPG Capital have acquired stakes in Bengaluru-based Cloudnine Hospitals from True North and TPG NewQuest in a secondary transaction valued at USD 450 million. Allegro Capital acted as the advisor to the company for the transaction. The deal values the hospital chain at approximately USD 1.3 Billion.Founded in 2006 by R Kishore Kumar, Rohit M.A., M. Ramachandra, and Vidya Kumar, Cloudnine operates a network of about 40 single-speciality hospitals across Bengaluru, Delhi, Mumbai, Pune, Chennai, Gurugram, Ludhiana, and Chandigarh. The firm specializes in maternity care, gynaecology, paediatrics, neonatology, fertility services, and stem cell banking. The firm is planning an IPO within the next 24 to 36 months.
Company website ↗ (opens in a new tab)
Between May 2011 and Sep 2026, Cloudnine had attracted about USD 181 M from Peak XV Partners, Z47, TrueNorth, TPG Newquest, and others.For FY25, Cloudnine had reported about INR 1,477 Cr in Operating Income and about INR 45 Cr in Net Loss.