ahh:  Gic Invests $170mn In Tpg-backed Health Firm | India Business News - Times of India

ahh: Gic Invests $170mn In Tpg-backed Health Firm | India Business News – Times of India


MUMBAI: Singapore’s sovereign wealth fund GIC is investing $170 million (nearly Rs 1,300 crore) in TPG Growth-backed healthcare delivery platform Asia Healthcare Holdings (AHH), making it one of the largest PE deals in the hospital space in recent years.
The transaction values the Bangalore-based company at around Rs 3,500 crore, industry experts told TOI. After the transaction, GIC will pick up a minority stake in the company, while AHH will continue to hold a majority stake, sources close to the development said.
Incubated by TPG Growth in 2016 and headed by Vishal Bali, ex-CEO of Fortis and Wockhardt Hospitals, AHH was set up as a holding company to promote single-specialty healthcare delivery. Launched with the acquisition of Cancer Treatment Services International (CTSI), which operated a single hospital in Hyderabad, it expanded to 11 cancer hospitals over 3 years, till the time TPG exited.
When contacted, AHH executive chairman Bali confirmed the deal and said the funds will be utilised for the next phase of growth, to consolidate the existing verticals of mother & child healthcare, fertility solutions (IVF), and to add new specialties. “At AHH, we have a distinctive approach to bridge the demand-supply gap in healthcare services in India by backing single-specialty healthcare delivery enterprises with a combination of capital, operating expertise, and clinical practices to power their growth,” he said.


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