PE firm Quadria ropes in Advay Capital for stake sale in India’s Medica Hospital

Photo: Reuters

Singapore-based healthcare-focused private equity (PE) firm Quadria Capital has appointed Advay Capital to initiate the stake sale of its portfolio company Medica Superspecialty Hospital, two persons familiar with the development told DealStreetAsia.

Headquartered in Kolkata, the 400-bed superspecialty hospital is the largest hospital chain in eastern India owned and operated by Medica Synergie Pvt Ltd.

Besides managing a chain of hospitals, Medica Synergie offers integrated healthcare solutions along diverse verticals such as hospital architectural planning & building, public health and retail pharmacy. 

Emails sent to Quadria Capital and Medica Synergie did not elicit any response.

In December 2013, Quadria Capital along with DEG and Swedfund had acquired a majority stake in Medica from ICICI Ventures for Rs 160 crore at a valuation of Rs 240 crore, per a report by The Economic Times. 

The proposed transaction values the company at Rs 500-600 crore ($72-86m), the report further added. 

The shareholders of the hospital are looking at a trade sale instead of a public listing, one of the sources said, adding that the proposal that the investment banker has prepared is likely to be launched over the next two weeks. “Listing Medica’s stake on the stock exchange may not bring satisfactory price valuation,” the person said.

Quadria Capital’s assets under management stand at over $1.5 billion. Currently, the firm has investments in 18 companies across the Asia-Pacific region.

Its other portfolio companies in India include HealthCare atHOME India, Krishna Institute of Medical Sciences, HealthCare Global Enterprises Ltd, among others.

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.