PE Fund Investments
IndiaRF acquires majority stake in Punjab hospital chain Ivy Healthcare for Rs.525-Cr
India Resurgence Fund (IndiaRF) has acquired a majority stake in Mohali, Punjab-headquartered Ivy Health and Life Sciences Pvt Ltd (Ivy) by investing INR 525 crore. As part of the transaction, IndiaRF will acquire Ivy's facilities in Punjab at Mohali, Amritsar, Khanna, Hoshiarpur, and Nawanshahr. It will also infuse fresh growth capital which will be used to improve the quality of patient care services offered by Ivy's existing facilities as well as expand its footprint to other cities in the state. Ivy Healthcare provides treatment to over 300,000 patients annually and has close to 1,100 beds and over 25 super-specialties across its multi-specialty hospitals across Punjab. . IndiaRF is a distressed and special situations investment platform, sponsored by Piramal Enterprises and Bain Capital Credit. The deal marks IndiaRF's first investment in the healthcare sector.
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