Quadria Capital, Singapore-based Asian healthcare sector focused private equity player, plans to put in around Rs 225 crore in India’s healthcare sector out a total proposed fund corpus of $300 million, or about Rs 1,870 crore.
The fund, promoted by physician Amit Verma and Abrar Mir, has already raised $107 million and has announced its maiden investment by acquiring a stake of about 60% in specialty hospital chain Medica Synergie.
“This is the first transaction for the Asia fund which will have a size of $300 million. Out of this 60% would be invested in Southeast Asia and balance 40% in South Asia, out of which 30% would go to India,” Sunil Thakur, director, Quadria Capital Investment Advisors told dna.
The fund’s investment strategy is focused on four key healthcare sub-sectors such as healthcare delivery, life sciences, medical technology and associated services, he said.
Quadria has invested via a consortium including investors like multilateral development funds like DEG of Germany and Swedfund of Sweden, which along with promoter of Medica Synergie, physician Alok Roy, is putting in about Rs 459 crore in expanding the chain to emerge as the largest healthcare service provider in the eastern region.
“Within the next 18 months Medica chain would grow from three hospitals in Kolkata, Siliguri and Tinsukia with 800 beds to 15 units with an aggregate 3,000 beds across in eastern India becoming the single-largest player in this part of the country,” Roy said. Quadria’s entry marks the exit of ICICI Ventures, an early investor in Medica, which had put in Rs 68 crore in 2007.
Identifying core investment areas
The fund’s investment strategy is focused on four key healthcare sub-sectors such as healthcare delivery, life sciences, medical technology and associated services. Quadria has invested via a consortium including investors like multilateral development funds like DEG of Germany.