Healthcare & Life Sciences
Kedaara Capital has acquired a significant minority stake in Vijaya Diagnostics
About
Vijaya Diagnostics
Established in 1981, Vijaya Diagnostics is one of India’s largest integrated diagnostics chains serving over two million customers annually. It is the market leader in the states of Telangana and Andhra Pradesh, with a dominant presence in Hyderabad and an emerging presence in Kolkata and Bengaluru. Vijaya Group is promoted by Dr. Surender Reddy, a radiologist who pioneered the model of full-service diagnostic centres in India, and managed by Supritha Reddy and Suneil Reddy.
Kedaara Capital
Kedaara Capital is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. Kedaara’s investment approach blends skilled investment judgement with extensive operating experience. Kedaara’s focus is on transaction themes around strategic partnerships and emerging leaders with a common underlying goal of investing in well-positioned market leaders that could benefit from Kedaara’s unique skills to realize their true potential.
Background
We are pleased to announce that Kedaara Capital (“Kedaara”) acquired a significant minority stake in our client Vijaya Diagnostic Centre Private Limited (“Vijaya Diagnostics”) making it the largest transaction in the integrated diagnostics space in India. Vijaya Diagnostics, headquartered in Hyderabad, has a unique integrated model with pathology and imaging services under one roof across centres and was founded by Dr. Surender Reddy, a leading radiologist.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to Vijaya Diagnostics 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.
This transaction marks VedaCorp’s second deal involving a top-tier Indian diagnostics player. VedaCorp also advised in the sale of Dr GSK Velu’s stake in Metropolis Healthcare to The Carlyle Group in 2015.
This transaction is VedaCorp’s 24th in the healthcare domain and reaffirms our credentials as the go-to healthcare investment bank in the country.