Healthcare & Life Sciences
Dr Agarwal group raised private equity from ADV Partners
About
Dr Agarwals Healthcare
Established in 1957, Dr. Agarwal Group is one of the India’s premier eye hospitals promoted by the internationally renowned Dr. J. Agarwal & family. The group has pioneered innovations in the field of ophthalmic care with several firsts to its credit. With 60+ advanced eye hospitals in 9 countries, Dr. Agarwal Group is constantly engaged in conducting continuous medical training and R&D programs and has over a period developed an excellent team of highly skilled Ophthalmic specialists and surgeons, to assist in its growth plans.
ADV
ADV Partners is a Hong Kong based private equity firm with offices in Hong Kong, Singapore, Shanghai and Mumbai, and is currently investing from its maiden USD 550 million fund. ADV follows a unique pan-regional approach of identifying opportunities and creating value across various industry sectors in Asia.
Evolvence
Established in 2006, Evolvence India Life Sciences Fund provides growth capital to companies operating in the Indian healthcare sector. Evolvence invests in small to mid-sized pharmaceutical, biopharmaceutical, medical device, contract R&D, and healthcare services businesses which are either located in India or which derive significant competitive advantage from operations located in India
Background
We are pleased to announce that ADV Partners (“ADV”) acquired a significant minority stake in our client Dr. Agarwal’s Healthcare Limited (“Dr. Agarwal Group”) for an investment of about USD 45mn.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to Agarwal Group and its shareholders 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.
In addition to providing complete exit to Evolvence India Life Sciences Fund (“Evolvence”), a leading Private Equity Fund, ADV has also infused fresh equity capital into the Company for expanding its hospital network across India and MENA region.