Healthcare & Life Sciences
Dr GSK Velu and Associates have divested their entire minority stake in Metropolis Healthcare Limited in favour of The Carlyle Group
About
Metropolis
Founded in 1981, Metropolis has amongst the largest service menus in India offering more than 4,500 varieties of diagnostic tests. Processing 15 million tests a year, Metropolis caters to more than 10,000 laboratories, hospitals and nursing homes, as well as 200,000 doctors. Metropolis is accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) and the College of American Pathologists (CAP), the gold standard in laboratory accreditation.
Dr GSK Velu
A pioneering entrepreneur in the fields of Indian Medical Technology and Diagnostic Services, Dr Velu straddles many health care related ventures successfully. He is the Chairman and Managing Director of Trivitron Health Care, one of India’s leading MedTech companies into manufacturing and distribution of Medical equipment & Diagnostics across different specialties/applications with operations across India, SE Asia, GCC & Europe. He is also the Chairman and Founder of Medfort Hospitals (operating under the brand “Maxivision”), a fast growing, niche, regional eye care chain and Founder Director of Alliance Medicorp (Chain of Dialysis and Dental Care centres), a joint venture with the Apollo Hospitals group. He was the ex-promoter of Metropolis Healthcare.
The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with $193 billion of assets under management across 128 funds and 159 fund of funds vehicles as of June 30, 2015. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries. The Carlyle Group employs more than 1,700 people in 35 offices across six continents.
Background
We are pleased to announce that our clients Dr GSK Velu and Associates have divested their entire minority stake in Metropolis Healthcare Limited (“Metropolis”), a multinational chain of pathology laboratories in favour of The Carlyle Group (“Carlyle”).
Veda Corporate Advisors was the exclusive advisor to Dr GSK Velu and Associates in this transaction. VedaCorp provided comprehensive transaction advisory services covering valuation and transaction structuring, negotiation and finalization of definitive agreements, leading to the successful closure of the transaction.
This marks VedaCorp’s 20th Transaction in the health care domain and reaffirms its standing as a pre-eminent player in this segment. It also marks VedaCorp’s 5th Private Equity transaction for Dr GSK Velu’s Group / Associate companies. VedaCorp was the exclusive advisor to the capital raise of Trivitron and Medfort Hospitals, companies promoted by Dr Velu, in the recent past.