Healthcare & Life Sciences
Continental Hospitals – Majority stake acquired by IHH Healthcare Berhad
About
Continental Hospitals
Promoted by Dr Guru N Reddy, Continental Hospitals is a 550-bed multi super speciality facility in the fast growing Financial District of Hyderabad, which commenced operations in March 2013. Continental Hospitals is one of the fastest to be accredited by Joint Commission International (JCI) & National Accreditation Board for Hospitals & Healthcare (NABH) in India. With its state-of-the-art facility, Continental Hospitals is dedicated to providing highest quality patient care using world class medical equipment and superior technology
IHH
IHH is Asia’s largest integrated private healthcare group with a network of 38 hospitals and more than 7,000 beds across Asia, including Singapore, Malaysia, Brunei, Turkey, India, China, Vietnam, UAE, Macedonia and Iraq.
In Singapore, Parkway Pantai is the largest private healthcare provider and operates Mount Elizabeth Novena Hospital, Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital – all accredited by Joint Commission International (JCI). In Malaysia, Parkway Pantai operates over 2,000 beds across a network of 12 multi-disciplinary hospitals under the “Pantai” and “Gleneagles” brands.
Background
We are pleased to announce that IHH Healthcare Berhad (the second largest hospital chain in the world) through its 100% subsidiary Parkway Pantai Limited (“IHH”) has made an investment of about USD 50mn for a majority stake in our client Continental Hospitals Limited, Hyderabad (a JCI accredited hospital) (“Continental Hospitals”). In a sector that has attracted substantial private equity investments, this stands out as one of the largest cross border strategic transactions and marks the first direct foray of IHH in India.
Veda Corporate Advisors (“VedaCorp”) was the exclusive advisor to Continental Hospitals & its promoters in the transaction. VedaCorp provided comprehensive transaction advisory services covering identification of prospects, strategic positioning, valuation and transaction structuring, assistance in due diligence, negotiation and finalization of definitive agreements, leading to the successful closure of the transaction.