PE-VC Fund Investments
Permira to acquire True North’s 25.71% stake in maternity clinic chain Cloudnine
London-headquartered private equity firm Permira (through Luxembourg.-based NuageLux BidCo) is to acquire a 25.71% stake in Kids Clinic India, the parent company of Cloudnine Hospitals , from its existing PE investor True North. The transaction values the maternity and paediatric hospital chain at approximately INR 11,000-Cr.Founded as a maternity and paediatric hospital chain, Cloudnine is currently in the process of acquiring Apollo Specialty Hospitals and Apollo Fertility Centre from Apollo Health and Lifestyle.
Between May 2011 and Jul 2021, Cloudnine had attracted about $ 131 M from Peak XV Partners, Z47, TrueNorth, TPG Newquest.For FY25, Cloudnine had reported about INR 1,477 Cr in Operating Income and about INR 44 Cr in Net loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
