PE Fund Investments
General Atlantic buys hospital chain Ujala Cygnus for Rs.1,000-Cr
General Atlantic has acquired a majority stake in New Delhi-headquartered Ujala Cygnus , a hospital chain with a network of 21 hospitals across tier II and tier III cities. The deal includes a primary investment of INR 400 crore (in two tranches), along with a secondary investment of INR 600 crore. The company’s existing investors, Eight Roads Ventures, Somerset Indus Capital, and Evolvence Capital have made a full exit as part of the latest deal.Ujala Cygnus was established in November 2019 as a result of a merger of Ujala Health Care and Cygnus Medicare. Ujala Health Care is the diversified Healthcare Entity of Amar Ujala Group, a well-known brand that enjoys brand equity in rural, tier 2 and 3 towns of Northern India.
Between 2013 and 2016, Cygnus Medicare had raised over USD 19 M from Eight Roads Ventures, Somerset Indus Capital, and Evolvence Capital. The investors made a partial exit in 2019 when media firm Amar Ujala Ltd acquired a majority stake in Cygnus Medicare.
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