PE-VC Fund Investments
InvAscent invests $30-M in Rajasthan hospital chain Apex; Somerset Indus Capital exits
Healthcare & Life Sciences-focused private equity firm InvAscent has invested USD 30 million (about INR 265 crore) through a mix of primary infusion and secondary purchases in Jaipur-based multi-speciality hospital chain Apex Hospitals . The deal marks a complete exit for Apex’s existing healthcare focused PE investor Somerset Indus Capital Partners.Advay Capital Advisors advised both Apex and Somerset on the transaction.The hospital’s promoters will retain the majority stake and continue to drive the business.Established in 1990 by Dr SB Jhawar, Apex Hospitals runs two hospitals in Jaipur, and one each at Bikaner, Sawai Madhopur, Jhunjhunu, Sri Ganganagar and Udaipur with a combined strength of about 1000 beds.
In May 2019, Apex Hospitals had raised about USD 4 M from Somerset Indus Capital Partners.
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