General Atlantic, a growth equity firm, has invested $130 million in Krishna Institute of Medical Sciences (KIMS Hospitals), a healthcare service provider in Telangana and Andhra Pradesh.
Giving details of the investment, KIMS Hospitals said as part of the transaction, General Atlantic has invested over $130 million in a combination of primary capital and secondary purchases, to acquire a significant minority stake in the company.
“We are thrilled to partner with General Atlantic as we embark on our next phase of growth to strengthen our presence in underserved geographies,” said Bhaskar Rao, managing director and CEO of KIMS Hospitals. The hospital was set up in 2004 by Dr. Rao and at present has seven multi-specialty hospitals across the region and a capacity of over 2,500 beds.
Managing director and head of India and Asia-Pacific at General Atlantic, Sandeep Naik, said the “combination of an acute shortage in quality healthcare infrastructure and a strong focus from the government to make quality healthcare more accessible has created compelling secular tailwinds to drive growth for high-quality corporate hospital networks. We believe KIMS Hospitals is uniquely positioned to benefit from these trends”.
