PE Fund Investments
KKR to acquire 70% stake in Kerala's Baby Memorial Hospital for Rs.2,500-Cr
Asian Fund IV, a fund managed by global private equity investor KKR, is to acquire a 70% stake in Kozhikode, Kerala-headquartered multi-specialty hospital chain Baby Memorial Hospital (BMH) for USD 300 million (around INR 2,500 crore). KKR’s investment will support BMH’s efforts to build a pan-India network of hospitals.Founded in 1987 by Dr. K G Alexander, BMH is a multi-specialty hospital chain, with a capacity of 1,000 beds across in Calicut and Kannur, and planned expansions across the region. BMH provides treatments across 40 departments including cardiology, oncology, neurology, gastroenterology, paediatric and orthopaedic care.
In June 2019, Baby Memorial Hospital had raised debt funding from KKR India Financial Services Pvt Ltd.For FY23, Baby Memorial Hospital had reported INR 319 Cr in Operating Income and INR 23.30 Cr in PAT.
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