Mumbai: Surya Children’s Medicare Pvt Ltd, which runs a paediatric hospital under the brand Surya Child Care, has raised ₹200 crore from SeaLink Capital Partners (SCP), a mid-market investment firm, the company said on Friday.
Surya is Western India’s largest children’s hospital specialising in high-risk maternity and neonatal and paediatric intensive care.
The recent transaction included an infusion of growth capital into the company and a purchase of the stake held by OrbiMed, a private investment firm dedicated to healthcare.
The company, which has a presence in Mumbai, Pune and Jaipur, plans to expand further in the next few years.
“Through a relentless focus on clinical outcomes and the highest quality of patient care over the last 30 years, Surya has established itself as a leading mother and child specialty care hospital in Western India. We are excited to partner with SeaLink Capital Partners at this juncture in our evolution as we continue to follow our vision of being a centre of excellence in providing quality healthcare to women and children in India,” said B.S. Avasthi, managing director of Surya.
Managing partner Heramb Hajarnavis and executive director Karthik Narayanaswamy at SeaLink Capital Partners will join Surya’s board of directors.
“There is a significant shortfall in availability of paediatric healthcare services and infrastructure in India and addressing it is an extremely urgent issue. We have been highly impressed with the quality and focus on mother and child-care at Surya,” said Hajarnavis.
Mumbai-based private equity firm SeaLink Capital Partners was launched in 2014 by Hajarnavis and Narayanswamy, who previously worked with KKR Capstone. The firm primarily invests in sectors such as healthcare, information technology, financial services, business services, consumer products and niche manufacturing sectors.
The fund made final close of its maiden fund at $315 million in March and aims to invest between $15-50 million in 8-12 companies.