KKR Acquires Controlling Stake in Baby Memorial Hospital, a Multi-Specialty Hospital Network in India
01 Juli 2024 - 10:36AM
Business Wire
Transaction marks KKR’s latest investment in
India’s healthcare sector
Investment will support the build-out of a
leading pan-India network of hospitals
KKR, a leading global investment firm, and Baby Memorial
Hospital (‘BMH’), a leading regional multi-specialty hospital chain
in India, today announced the signing of definitive agreements
under which funds managed by KKR will acquire a controlling stake
in BMH. KKR’s investment will support BMH’s efforts to address the
growing need for quality, accessible healthcare services in India
by advancing its efforts to build a leading pan-India network of
hospitals, including through both organic and inorganic growth
strategies.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240630643698/en/
Founded in 1987 by Dr. K G Alexander, BMH is one of the leading
multi-specialty hospital chains in Kerala, with a capacity of 1,000
beds across hospitals in Calicut and Kannur, and planned expansions
across the region. BMH provides comprehensive services with
specialized treatment across 40 medical and surgical departments
including cardiology, oncology, neurology, gastroenterology,
pediatric and orthopedic care. BMH has invested in top-quality
grade medical infrastructure and has multiple quality
accreditations across hospitals in its network.
Akshay Tanna, Partner and Head of India Private Equity,
KKR, said, “Our investment in BMH reflects our continued
thematic focus on healthcare in India. We are pleased to be
strategic partners with Dr. K G Alexander and family through this
investment, which will aid BMH in expanding its network of
hospitals and continuing to invest in medical infrastructure so
that its medical services can reach more patients in India. We look
forward to drawing from KKR’s network and deep healthcare expertise
to take BMH to its next phase of growth and deliver greater impact
to its communities.”
Dr. K G Alexander, Founder and Chairman of Baby Memorial
Hospital, said, “KKR's investment in BMH is a testament to our
unwavering commitment to delivering accessible and quality
healthcare services for all. We are pleased to be able to tap into
global and local experience in the healthcare sector, which will
enable us to accelerate our growth and expand our services across
India, and importantly continue to deliver excellence to the
patients we serve.”
KKR makes its investment from its Asian Fund IV. The transaction
further builds on KKR’s track record in the healthcare sector in
India and across Asia Pacific, which includes: Max Healthcare, one
of India’s largest hospital networks; Healthium, a leading Indian
medical devices company; Infinx, a tech-enabled healthcare revenue
solutions provider; JB Pharma, a leading branded formulations
pharmaceutical company in India; Gland Pharma, a leading Indian
pure-play generic injectable pharmaceutical products company; PHC,
a leading provider of medical equipment and clinical healthcare IT
systems in Japan; Bushu Pharma, a leading pure-play contract
development and manufacturing company in Japan; and Metro Pacific
Hospitals, the largest private hospital chain in the
Philippines.
Additional details of the transaction are not disclosed.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
worldclass people, and supporting growth in its portfolio companies
and communities. KKR sponsors investment funds that invest in
private equity, credit and real assets and has strategic partners
that manage hedge funds. KKR’s insurance subsidiaries offer
retirement, life and reinsurance products under the management of
Global Atlantic Financial Group. References to KKR’s investments
may include the activities of its sponsored funds and insurance
subsidiaries. For additional information about KKR & Co. Inc.
(NYSE: KKR), please visit KKR’s website at www.kkr.com. For
additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
About Baby Memorial Hospital
Founded in 1987 by Dr. K G Alexander, BMH is one of the leading
multi-specialty hospital chains in Kerala, with hospitals in
Calicut and Kannur, and planned expansions across the region. BMH
provides comprehensive services with specialized treatment across
40 medical and surgical departments including cardiology, oncology,
neurology, gastroenterology, pediatric and orthopedic care. BMH has
invested in top-quality grade medical infrastructure and has
multiple quality accreditations across hospitals in its network.
For more information, please visit: https://babymhospital.org/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240630643698/en/
For KKR Wei Jun Ong +65 6922 5813 WeiJun.Ong@kkr.com
KKR (NYSE:KKR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
KKR (NYSE:KKR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024