PE-VC Fund Investments
Kerala’s Baby Memorial Hospital raises Rs.1,750-Cr more from KKR
US private equity firm KKR has invested INR 1,750 crore in Kozhikode-based Baby Memorial Hospital through a rights issue. This latest capital infusion increases KKR's total investment in the hospital chain to over INR 5,100 crore within two years of its initial stake acquisition in July 2024. KKR now holds about a 75% stake in the hospital.Baby Memorial Hospital, founded by physician KG Alexander, will use the fresh funds for acquisitions. The hospital chain presently operates six hospitals in Kerala, one in Tamil Nadu, and two in Telangana, the latter acquired through Star Hospitals. Its overall bed capacity is anticipated to reach 3,000, and it projects revenues of INR 2,500 crore by the end of the current financial year.
Between Jun 2019 and Jul 2024, Baby Memorial Hospital had attracted about USD 340 M from KKR.For FY25, Baby Memorial Hospital had reported about INR 400 Cr in Operating Income and about INR 115 Cr in PAT.
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