India Digest: KIMS Hospitals, Rockland, Lakeshore Hospital stake sale; Practo, SpectraVR fund raise

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

Healthcare startup Practo is in talks to raise a new round of funding of $30-40 million, at a valuation of over $600 million, said a report in The Economic Times quoting sources.

As per the sources, US-based investment firm Thrive Capital, Russia’s ru-Net Holdings and existing investor Chinese online giant Tencent are in advanced negotiations with the company.

A term sheet is still being hashed out and may take two more weeks to finalise.

SpectraVR raises seed funding from Rothenberg Ventures

Virtual reality content studio SpectraVR has raised an undisclosed amount as seed funding from US-based technology venture capital firm Rothenberg Ventures, the company said in a release.

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.

Also Read:

India: Aster DM Healthcare acquires India Venture Advisors’ 25% stake in Ramesh Hospitals

India Digest: UAE’s VPS Healthcare in talks to buy some Indian hospitals; Arvind looks to buy Freecultr

 

 

 

 

 

 

 

 

 

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.