Regency healthcare set to raise $14 million from global funds
NEW DELHI: Kanpur-based Regency Healthcare is set to raise about $14 million from a consortium of leading global funds IFC, KOIS and HealthQuad. “The three have taken a significant minority stake (20-30%) in the chain,” said a person involved in the deal, without disclosing financial details.
The multi-super specialty, renal and oncology chain manages 500 beds across five facilities and is being valued around Rs 300 crore, said another person familiar with the deal. It is targeting expansion to 1,500 beds across 10 facilities in central and eastern Uttar Pradesh in the next two years, at an investment of about Rs 350 crore.
Regency has two strategic joint ventures with Fresenius Medical Care, Germany, for setting up a dialysis chain and with Healthcare Global (HCG) for oncology hospitals. Regency started work on a 125-bed dedicated oncology hospital this month and will begin a multispeciality unit next month.
Regency Healthcare managing director Dr Atul Kapoor said, “Our effort to grow quality healthcare business in Uttar Pradesh has received a much-needed boost from this investment. Regency will make an investment of in excess of Rs 350 crore.”
HealthQuad is a healthcare focus venture capital fund started by Amit Varma and Abrar Mir, sponsors of Quadria Capital. Varma said, “Regency represents a unique opportunity to improve access to care across a trusted hospital network in Uttar Pradesh. The thrust to provide best infrastructure and technology at an affordable price point will deliver the much needed benefit and outcomes to all the stakeholders.”
The multi-super specialty, renal and oncology chain manages 500 beds across five facilities and is being valued around Rs 300 crore, said another person familiar with the deal. It is targeting expansion to 1,500 beds across 10 facilities in central and eastern Uttar Pradesh in the next two years, at an investment of about Rs 350 crore.
Regency has two strategic joint ventures with Fresenius Medical Care, Germany, for setting up a dialysis chain and with Healthcare Global (HCG) for oncology hospitals. Regency started work on a 125-bed dedicated oncology hospital this month and will begin a multispeciality unit next month.
Regency Healthcare managing director Dr Atul Kapoor said, “Our effort to grow quality healthcare business in Uttar Pradesh has received a much-needed boost from this investment. Regency will make an investment of in excess of Rs 350 crore.”
HealthQuad is a healthcare focus venture capital fund started by Amit Varma and Abrar Mir, sponsors of Quadria Capital. Varma said, “Regency represents a unique opportunity to improve access to care across a trusted hospital network in Uttar Pradesh. The thrust to provide best infrastructure and technology at an affordable price point will deliver the much needed benefit and outcomes to all the stakeholders.”
