Sri Kauvery Medical Care (India) Limited (Kauvery Hospitals) Raises INR 1400MN
~ Outlines roadmap to 3000+ beds in South India with a total capital outlay of INR 7,000 million over the next 4 years; Secures backing from LGT Lightstone Aspada
Chennai, 6th September 2019: With a plan to fuel the next phase of expansion, Sri Kauvery Medical Care (India) Limited (Kauvery Hospitals) has raised INR 1,400 million of equity from LGT Lightstone Aspada. The proceeds from this round will be used to deepen Kauvery’s presence in Tamil Nadu and expand its footprint across South India.
“Kauvery Hospitals is excited to welcome LGT Lightstone Aspada as its new investor. We are looking at adding 12-15 hospitals with an aggregate capacity of 3,000+ beds to our network over the next 3-5 years with a major focus on South India. The expected funds to be deployed for this proposed expansion will be around INR 7,000 million. This expansion will be done through a mix of strategic partnerships, acquisitions and brownfield hospitals”. said Dr. S. Chandrakumar, Founder, Executive Chairman, Kauvery Hospitals.
Dr. S. Manivannan, Co-founder, Managing Director, Kauvery Hospitals said that “We believe that the investment from LGT Lightstone Aspada is an endorsement of Kauvery Hospital’s success in creating a model delivering high quality healthcare services at affordable prices to its patients across all markets. Kauvery Hospitals will continue to drive growth with focus on efficiency and patient care”.
“Healthcare is one of our core themes of focus. Our investment in Kauvery is an important milestone in our effort to contribute towards building an interconnected healthcare system in India that improves overall health outcomes and affordability. We are excited to partner with the team at Kauvery in their goal of setting the benchmark for care-standards and affordability at scale in the Indian hospital segment” said Kartik Srivatsa, Managing Partner LGT Lightstone Aspada.
Veda Corporate Advisors, a leading mid-market investment bank advised the Company on the transaction.
About Kauvery Hospitals
Established in 1999, Kauvery Hospital has established itself as a healthcare institution of repute within a short span of time. With presence in 5 cities in Tamil Nadu spanning Tier-1 and Tier-2 markets namely Trichy, Chennai, Salem, Hosur and Kariakudi. Kauvery hospital group aims to make healthcare affordable through an optimal capital plan, operational efficiency & by leveraging technology. A patient centered approach and adherence to international service standards has helped establish itself as an ethical healthcare brand offering high quality services.
It offers services primarily in the areas of Cardiology, Gastroenterology, Nephrology, Neurosciences, Trauma, Critical care & oncology. The Group has several clinical breakthroughs to its credit in the areas of organ transplantation, complex heart surgeries, advanced neurosurgery, complex microvascular surgeries, major vascular surgeries and joint replacements.
Setting a new benchmark in adoption of technology in healthcare space, Kauvery Hospital has recently set up comprehensive and advanced neuro and spine treatment for complex spine deformity correction surgeries.
About LGT Lightstone Aspada
LGT Lightstone Aspada is the India focused impact investment platform of LGT Lightstone, LGT Group’s impact investing initiative to build a global multi-billion-dollar direct investing platform focused on scalable businesses that provide access to improved livelihoods, information and services for underserved consumers around the world and/or promote sustainable resource utilization. LGT is a leading international private banking and asset management group that has been fully controlled by the Liechtenstein Princely Family for over 80 years. LGT employs over 3500 people who work out of more than 20 locations in Europe, Asia, the Americas and the Middle East. www.lgt.com
