Private Equity Giants Compete for Majority Stake in Asian Institute of Medical Science General Atlantic and KKR are among 4-5 private equity firms vying for a majority stake in the Faridabad-based hospital chain, Asian Institute of Medical Sciences (AIMS), according to informed sources. The potential deal is expected to value the 1,200-bed hospital chain, which focuses on North and East India, at ₹1,500 crore.
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General Atlantic and KKR are among 4-5 private equity firms vying for a majority stake in the Faridabad-based hospital chain, Asian Institute of Medical Sciences (AIMS), according to informed sources. The potential deal is expected to value the 1,200-bed hospital chain, which focuses on North and East India, at INR 1,500 Crore.
Other interested parties include Singapore-based Growtheum Capital and the Asia-focused fund Everstone Capital. The India Resurgence Fund (IndiaRF), supported by Piramal Enterprises and Bain Capital, had also shown interest but decided to withdraw, sources said. Currently, US-based PE firm OrbiMed and British International Investment (BII), the UK's development finance institution, collectively hold a 49 per cent stake in AIMS, while the remaining shares are held by promoter Dr. Narendra Kumar Pandey and his family.
Both existing investors and promoters are selling a minority stake in AIMS, with the exact portion depending on the company's final valuation, sources mentioned.
Veda Capital, based in Chennai, has been appointed to manage the sale process. The PE firms have already submitted their initial bids. AIMS operates in Noida, Uttar Pradesh, Jharkhand, and Bihar, with a total bed count of around 1,200. The super-speciality hospital in Faridabad has about 425 beds. AIMS employs over 1,100 doctors and 4,500 trained professionals across more than 24 medical specialties.
Economic Times reported that a spokesperson for AIMS confirmed that OrbiMed and BII are in the process of exiting their investments but did not provide further details.
General Atlantic intends to acquire the stake in AIMS through its recently acquired hospital chain, Ujala Cygnus. In April, the US PE firm took a significant majority stake in Ujala Cygnus Healthcare Services, a 2,500-bed hospital chain in North India serving tier-II and III cities through a network of 21 hospitals. General Atlantic had also recently exited a minority stake in Krishna Institute of Medical Sciences (KIMS Hospitals).
Earlier this month, KKR acquired about a 70% stake in Kerala-based hospital chain Baby Memorial Hospital (BMH) in a deal valued at USD 300 Million (INR 2,500 Crore). This marked KKR's return to the Indian healthcare sector two years after exiting Max Healthcare with a fivefold return. KKR plans to leverage the BMH brand to acquire more hospitals with 500-1,000 beds in various cities and create a healthcare platform, according to Akshay Tanna, partner and head of India Private Equity at KKR.
