We are pleased to announce that our client Asian Institute of Medical Sciences ("Asian"), a leading tertiary care hospital chain with facilities in North & Eastern India, has raised Series B fund raise of INR 1,380 Mn from Development Corporation (CDC Group Plc.) a leading Development Financial Institution sponsored by the Government of UK.

OrbiMed Advisors LLC, the Series A Investor continues to stay invested in the Company. Asian will use the funds to expand its operations across UP, Bihar, Haryana and Jharkhand.

Veda Corporate Advisors ("Veda") was the exclusive financial advisor to Asian. Veda provided comprehensive transaction advisory services covering identification of prospective investors, strategic positioning, valuation and transaction structuring, negotiation and finalization of definitive agreements, leading to the successful closure of the transaction.

This marks Veda's 27th transaction in the healthcare domain and 10th transaction in the tertiary health care delivery segment further reaffirming our credentials as the "Go to" health care investment bank in the country.

Dr. N.K. Pandey, Chairman and Managing Director of Asian, said,

"It has been a great experience to work with Veda Corporate Advisors. The Veda team had a professional and structured approach which helped us throughout the fund raising process. I particularly found their knowledge of the healthcare domain to be in-depth and up to date. I would like to thank Veda for all the hard work and for becoming a part of our team"

Commenting on the transaction, Vijay Kaushik, Director at Veda Corporate Advisors, said," Asian, driven by a passionate promoter & management team, has been able to create a leadership position for critical healthcare through its current facilities. The group plans to extend its success by establishing critical care hospitals in areas hitherto unaddressed by other corporate healthcare chains. The fund raise from CDC will enable Asian to reach other markets with significant unmet demand, across North & East India and strengthen its position as a world class hospital chain."

   About Asian Institute of Medical Sciences

Asian group of hospitals provides high quality tertiary care in under-served locations of Northern and Eastern India. Asian operates 5 hospitals and 3 primary healthcare clinics located in Haryana, Uttar Pradesh, New Delhi and Jharkhand with a total capacity of ~ 775 beds. The current expansion envisages adding another ~ 1,000 beds across Haryana, UP, Bihar & Jharkand. Asian Faridabad the flagship facility is NABH accredited and is rated as one of top 5 healthcare facilities in Delhi, NCR by The Week, 2017.


About CDC Group Plc.

CDC is the UK government-owned development finance institution that uses its own balance sheet to invest in the developing countries of South Asia and Africa. Porfolio of investments is valued at over £4.8bn spread across 1,245 investee businesses. CDC’s mission is to support the building of businesses in the poorest countries, creating jobs and making a lasting difference to people’s lives in some of the world’s developing countries.

About Veda Corporate Advisors

Veda is a leading investment bank providing focused advisory services to companies, entrepreneurs and private equity funds. We offer independent advice and customized solutions on private equity fund raising and M & A. With a dedicated and experienced team spread across offices in Chennai and Bangalore, Veda brings together rich experience in handling a variety of transactions. Since inception, we have closed over 110 transactions, aggregating to over USD 4 billion in value.

For further information, please contact:

PR. Vijay Kaushik
+91 44 43535400
S. Ganapathiraman
Associate Director
+91 44 43535400
Rishabh Jain
+91 80 42036793
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