<article>India and Southeast Asia-focused investment firm <a href="https://www.dealstreetasia.com/?s=Everstone" target="_blank" rel="noopener noreferrer">Everstone</a> on Sunday announced that it has signed an agreement to acquire a controlling stake in <a href="https://www.dealstreetasia.com/?s=Sahyadri Hospitals Ltd" target="_blank" rel="noopener noreferrer">Sahyadri Hospitals Ltd</a>, the largest hospital chain in Maharashtra.</article>

India and Southeast Asia-focused investment firm <a href="https://www.dealstreetasia.com/?s=Everstone" target="_blank" rel="noopener noreferrer">Everstone</a> on Sunday announced that it has signed an agreement to acquire a controlling stake in <a href="https://www.dealstreetasia.com/?s=Sahyadri Hospitals Ltd" target="_blank" rel="noopener noreferrer">Sahyadri Hospitals Ltd</a>, the largest hospital chain in Maharashtra.
The transaction involves a combination of primary and secondary capital, the firm said in a statement.
Everstone also said, the transaction will help Sahyadri cement its position as the leading healthcare chain in Maharashtra, and increase its bed-count significantly in the next five years. The Pune-based chain currently operates five tertiary care and three secondary care hospitals with 750 beds across Pune, Nashik and Karad areas.
Sahyadri has over 1,000 clinicians along with 2,300 support staff, the statement said.
Sameer Sain, CEO, Everstone Group, said, &#8220;Sahyadri Hospitals is a reputed name for quality healthcare and will act as the anchor asset of our healthcare delivery platform. Everstone will leverage its significant healthcare expertise and experience to grow the overall business.&#8221;
According to industry estimates, private secondary and tertiary healthcare delivery in India is expected to grow from $42 billion in 2018 to $65 billion by 2022 at a CAGR of ~12 per cent.
Everstone recently announced its exit from Mumbai-based Rubicon Research by selling its 70 per cent stake in the company to US-based growth equity investor General Atlantic. In a statement, however, Everstone said that it generated 4.5x multiple and a 92 per cent IRR on its investment in a span of three years.
In 2015, Everstone successfully exited Global Hospitals, a large multi-specialty tertiary hospital chain, generating over 3x returns. The firm&#8217;s healthcare portfolio includes controlling stakes in domestic pharma distribution platform, Ascent Health; Southeast Asia-based diagnostic device platform Everlife and an investment in one of the largest nutraceutical ingredient business, OmniActive.
Everstone manages assets in excess of $5 billion across private equity, real estate, green infrastructure and venture capital. It has offices in Singapore, India, London, New York and Mauritius.
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The transaction will help Sahyadri cement its position as the leading healthcare chain in Maharashtra, and increase its bed-count significantly.

Everstone to buy controlling stake in Indian hospital chain Sahyadri

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Everstone to buy controlling stake in Indian hospital chain Sahyadri

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