KKR, Temasek look to buy India's TPG-backed Care Hospitals - Mint

Max Healthcare Institute

04/11/2022 03:54

BENGALURU, Nov 4 (Reuters) - U.S. investment firm KKR &
Co Inc  KKR.N , Singapore's Temasek Holdings, and India's Max
Healthcare Institute  MAXE.NS  are vying to buy TPG-backed chain
of Care Hospitals in a deal worth over $1 billion, Mint
newspaper reported, quoting a person aware of the matter. 
    Private equity investors Blackstone and CVC Capital Partners
were also in the race to acquire  the hospital chain, The
Economic Times had reported in September.
    Investor interest in Indian healthcare companies has been
rising, with increasing non-COVID-19 patient admissions and a
rebound in elective procedures that were kept on hold for the
last two years amid the pandemic.
    Local media had reported in August that KKR had sold its
stake in Max Healthcare through affiliate Kayak Investments for
over $1 billion.
    While KKR declined to comment, Temasek and Max Healthcare
did not immediately respond to a Reuters request for comment.
    Started in 1997, Care Hospitals has 16 healthcare facilities
in eight cities across six states, it's website states.
    KKR and Temasek are also looking for a stake in Ranjan
Pai-backed Manipal Hospitals, according to multiple reports.
    ($1 = 82.6100 Indian rupees)
 (Reporting by Nandan Mandayam in Bengaluru; Editing by Dhanya
Ann Thoppil)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))