Commelina Ltd, an affiliate of Creador III LP, has invested RM180 million for a minority stake in a North Indian hospital chain, Paras Healthcare Pvt Ltd.
Paras operates five hospitals with 730 beds in total, offering secondary and tertiary care services.
Apart from establishing the first multi-specialty hospital in Gurgaon, Darbhanga and Patna, it also has two mother and child hospitals in New Delhi and Panchkula, said Creador in a statement yesterday.
The firm said the Indian healthcare market is highly underserved with nine beds per 10,000 population (global average: 30 beds).
“Overall healthcare expenditure of US$160 billion has increased at [a] 17% compound annual growth rate for the last 10 years, and private players have become a larger part of the overall pie,” said Creador.
“Paras has always envisioned itself to be a contributor in the changing landscape of healthcare in North India and work on the healthcare divide present where 70% of doctors and hospitals are located in metropolitan cities catering to only 30% of the population,” said Paras managing director Dr Dharminder Nagar.
Source : The Edge Markets