Key Takeaways
- • The Competition Commission of India (CCI) has approved a proposed INR 3,150 crore primary investment by US-based private equity firm Advent International in Noida-headquartered Yatharth Hospital & Trauma Care Services Limited.
- • Following completion, Advent is expected to hold a 24.9 per cent minority stake, with the founding Tyagi family remaining the largest shareholder.
- • The investment is being routed through Advent's Cyprus-based vehicle, Rasmalai Limited, which has no business operations or presence in India.
- • Yatharth plans to expand capacity to more than 5,000 beds over the next three years, up from 2,800 operational beds across nine multi-speciality hospitals.
Summary
The Competition Commission of India has approved a proposed INR 3,150 crore investment by Advent International in Yatharth Hospital & Trauma Care Services Limited, according to Digital Health News. The CCI announced the approval with the statement, "Commission approves acquisition of certain shareholding of Yatharth Hospital & Trauma Care Services Limited by Rasmalai Limited."
The approval follows an earlier announcement by Yatharth Hospitals of a definitive agreement with Advent for the investment in primary capital. Upon completion, Advent is expected to hold a minority stake of 24.9 per cent in the healthcare provider, while the founding Tyagi family will remain its largest shareholder. The investment is being made through Rasmalai Limited, an Advent-linked fund incorporated in Cyprus whose principal activity is holding investments. As reported, the entity currently has no business operations or presence in India.
The capital is intended to fund Yatharth's expansion and strengthen its healthcare network across the country. The company plans to increase capacity to more than 5,000 beds over the next three years. Founded in 2008, the Noida-based provider currently operates nine multi-speciality hospitals with 2,800 beds and an overall announced capacity of 3,250 beds, offering comprehensive healthcare services, diagnostics and advanced medical procedures.
Yatharth's growth agenda extends beyond bed capacity to include expanding clinical specialities, adopting technology, and entering underserved and high-growth healthcare markets. The transaction is also intended to strengthen Advent's footprint in India's hospital and healthcare services sector.
The approval follows an earlier announcement by Yatharth Hospitals of a definitive agreement with Advent for the investment in primary capital. Upon completion, Advent is expected to hold a minority stake of 24.9 per cent in the healthcare provider, while the founding Tyagi family will remain its largest shareholder. The investment is being made through Rasmalai Limited, an Advent-linked fund incorporated in Cyprus whose principal activity is holding investments. As reported, the entity currently has no business operations or presence in India.
The capital is intended to fund Yatharth's expansion and strengthen its healthcare network across the country. The company plans to increase capacity to more than 5,000 beds over the next three years. Founded in 2008, the Noida-based provider currently operates nine multi-speciality hospitals with 2,800 beds and an overall announced capacity of 3,250 beds, offering comprehensive healthcare services, diagnostics and advanced medical procedures.
Yatharth's growth agenda extends beyond bed capacity to include expanding clinical specialities, adopting technology, and entering underserved and high-growth healthcare markets. The transaction is also intended to strengthen Advent's footprint in India's hospital and healthcare services sector.
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