Healthcare & Life Sciences
DATE
March, 2017
TYPE
Private Equity
Kauvery Hospitals raised private equity & also provided an exit to IndiaVenture
About
Kauvery hospital
Promoted by Dr S. Chandrakumar, Founder & Managing Director and Dr S. Manivannan, Co-founder & Joint Managing Director with over 3 decades of clinical experience, Kauvery hospitals is a well-established multi locational multi-speciality tertiary care hospital chain. Currently, it operates about 1,000 beds across Tamil Nadu offering their best-in-class medical and surgical multispecialty services through an extremely skilled, multidisciplinary team of specialists, physicians, doctors, surgeons, medical and non-medical staff. The Company is expanding quickly into other tier 1 / 2 cities and proposes to form a cluster of hospitals across Tamilnadu and neighbouring markets.
Background
We are pleased to announce that our client Sri Kauvery Medical Care (Trichy) Pvt. Ltd. (“Kauvery hospitals”), a reputed chain of multi-speciality tertiary care hospitals with 1,000+ operational beds in Chennai, Trichy and other tier-II locations in Tamilnadu, has inducted a new financial investor through a combination of primary and secondary investment. The investment will be deployed by the Company for expanding its hospital network across Tamilnadu and neighbouring markets.
The transaction involved providing an exit to India Venture Advisors, a domestic private equity fund & certain non-promoter shareholders as well as aligning the promoters’ interests in multiple entities engaged in healthcare & related businesses.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to Kauvery hospitals and its promoters and management 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.
This transaction is VedaCorp’s 25th healthcare transaction, further reaffirming our premier credentials as the go-to Investment Bank in the healthcare domain.