Normal Atlantic will purchase a majority stake in Ujala Cygnus
US-based non-public fairness agency Normal Atlantic plans to accumulate roughly 70% stake in Ujala Cygnus Healthcare Providers. Dwelling Coin.
Ujala Cygnus Healthcare Providers, owned by media group Amar Ujala and headquartered in Delhi, India, is a multi-specialty hospital chain.
The deal is reportedly valued at round Rs16 billion ($192.32 million) and can see Normal Atlantic purchase a 51% stake from present traders.
Traders embody Eight Roads Ventures India, Evolvence India Fund and Somerset Indus Healthcare Fund.
Moreover, Normal Atlantic plans to accumulate a minority stake from the promoters together with a major stake.
That's what the sources stated Dwelling Coin that the deal is at present within the documentation part and is predicted to shut inside weeks.
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In line with the hospital's web site, the Ujala Hospital community contains 20 areas in 16 cities, together with Haryana, Uttar Pradesh, Uttarakhand, Jammu & Kashmir and Delhi.
To this point, the hospital community is alleged to serve multiple million sufferers.
It presents preventive and diagnostic remedy choices overlaying greater than 30 specialties, together with kidney transplantation, liver transplantation, oncology, neurosciences, urology, gastroenterology, cardiac sciences, orthopedics, nephrology, pulmonary ailments, aesthetic and reconstructive surgical procedure, endocrinology and diabetes.
It has a staff of greater than 300 medical doctors and medical consultants.
In October, DealStreetAsia reported that Normal Atlantic emerged as the only contender to accumulate an roughly 60% stake in Cygnus Medicare, the operator of Ujala Cygnus hospitals in northern India.
The deal for Cygnus Medicare was subsequently valued at between $100 million and $125 million, resulting in the departure of present backers Somerset Indus Capital Companions, Eight Roads and Evolvence India.
Normal Atlantic expects the nation's healthcare sector to learn from favorable demographic developments and rising prosperity.
