PE Fund Investments
Morgan Stanley PE Asia acquires cancer care chain ClearMedi Health for $35-M
Morgan Stanley PE Asia has acquired a controlling stake in the Delhi-headquartered ClearMedi Healthcare, which runs a chain of oncology hospitals and radiation therapy centres, in a buyout deal valued at about USD 35 million (INR 285 crore). The PE fund, along with the promoters of the healthcare chain, have bought out the stake of the existing strategic investor, the Italy-based KOS Group, taking their joint stake to 100%. The deal involved both stake purchase and infusion of fresh equity into the company. Advay Capital was the exclusive financial advisor to the promoter team of Clearmedi and Morgan Stanley PE on the transaction. Founded in 2010 by Dr Shashi Kant Baliyan, ClearMedi has a presence in eights states and a union territory.
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