Unaprime acquires stake in Lokmanya Hospitals
India-based monetary funding advisory agency Unaprime has reportedly acquired a 43.5% stake in Lokmanya Hospitals from Tata Healthcare Fund, The Financial Instances studies.
With this, Unaprime elevated its complete shareholding to 70%, co-founder Deep Mishra confirmed.
This strategic acquisition is a part of the corporate's transfer into asset administration within the non-public fairness sector.
The monetary funding advisory agency additionally bought extra shares from different present buyers.
Mishra mentioned: “We now have paid Rs1.4bn ($16.72m) as complete consideration for the stake acquired. We are going to make investments no matter is required to scale up the capability and finally take the corporate public.”
The enlargement plans embody growing the mattress capability of Lokmanya Hospitals from 300 to 500.
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By GlobalData
Lokmanya Hospitals, with branches in Pune, Kolhapur and Pimpri-Chinchwad, reported a turnover of Rs 1.3 billion for the fiscal 12 months 2023-24.
With the brand new funding, the hospital has set an bold goal of attaining a turnover of Rs 5 billion within the subsequent 4 years, the day by day reported.
Unaprime, which has its roots in funding banking, is diversifying its portfolio with this transfer into healthcare.
The agency's management staff consists of former professionals from funding and personal fairness companies.
Unaprime Healthcare, a particular objective automobile (SPV), has been established by Unaprime for the acquisition of Lokmanya Hospitals.
The SPV has attracted buyers reminiscent of Ravindranath Kancherla, founding father of World Hospital, and Rajeev Jain, Managing Director of Bajaj Finance.
Lokmanya Hospital launched Robotic Joint Substitute Surgical procedure in Asia and provides a spread of orthopedic and superior multidisciplinary therapies at its places in Pune, Kolhapur and Mumbai.
