Azim Premji is among those shortlisted to acquire KIMS Hospitals, while UAE’s VPS Health has acquired majority stakes in Rockland and Lakeshore hospitals. And, while Practo is in talks to raise $30-40 million, SpectraVR has raised seed funding.
Azim Premji among those shortlisted to acquire KIMS Hospitals in $220m deal
Tech billionaire Azim Premji, and private equity investors TPG Capital and India Value Fund are in the fray to buy controlling shares in private healthcare chain KIMS Hospitals, said a Times of India report quoting sources.
The deal is estimated to be around $220 million for Kerala-based KIMS that operates 2,000 beds through a network of hospitals in the Middle East and southern India.
N M Rothschild is advising the existing foreign investors – Orbimed and Ascent Capital – on a secondary sale of shares. Some of the bidders could join forces even as binding offers are expected shortly, said the sources.
UAE’s VPS Health acquires majority stakes in Rockland, Lakeshore hospitals for $222m
UAE-based VPS Healthcare has acquired majority stakes in hospital chain Rockland‘s Manesar, Qutub and Dwaraka (NCR) hospitals and Lakeshore Hospital, Kochi for over Rs 1,500 crore ($222 million), as per a Times of India report.
VPS Healthcare has 16 high-end hospitals and more than 100 primary care medical centres spread across the Middle East.
“Our presence will strengthen private healthcare in India, which is the major player as of now in India. Our commitment to quality and patient care has made VPS Healthcare the largest internationally accredited healthcare institution in the Middle east,” VPS Healthcare and Managing Director V P Shamsheer said.
The group is also planning to establish a high-end tertiary care institution in Noida with combined strength of over 1,000 beds.
Practo in talks to raise $50-60m at $600m valuation
A term sheet is still being hashed out and may take two more weeks to finalise.
SpectraVR raises seed funding from Rothenberg Ventures
The Mumbai-based startup plans to use the funds for product development, which includes creating VR-based games for brands, creating travel-oriented experiences, movies and other short-format content.
The startup specialises in producing high-end, 360-degree videos and animated interactive virtual reality-based content.