Liquidity Events
Quality Care to buy 85% in Kerala's hospital chain KIMS at $400-M valuation; True North exits
Hyderabad-headquartered hospital platform Quality Care India Ltd (QCIL), owned by private equity fund Blackstone, is to acquire Thiruvananthapuram-based hospital chain KIMS Health Management. The transaction values KIMS at INR 3,500 crore (USD 400 million). QCIL would acquire 80-85% stake in KIMS including the 55% stake held by existing investor True North. KIMS' founder promoter Dr MI Sahadulla will hold a 15-20% stake and will continue to run the business. After the KIMS buyout, QCIL will own close to 3,800 beds, making it the fourth largest hospital group after Apollo Hospitals, Manipal Health and Fortis Healthcare. KIMS has four hospitals in Thiruvananthapuram, Kottayam, Kollam and Perinthalmanna, with a total capacity of 1,378 beds. Its 300-bed hospital in Nagercoil in Tamil Nadu will be operational by March 2024.
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