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Care Hospitals scouting for a buyer
Care Hospitals from Evercare, a wholly owned company of TPG Growth is seeking a buyer. Blackstone, CVC Capital, Temasek, Max Healthcare, and Brookfield, seem interested.
The hospital chains has 2,400-beds, with 15 hospitals in India and two in Bangladesh. The value of the deal is expected to be Rs 7500 crore. TPG also owns approximately 20% of Ranjan Pai-run Manipal Hospitals and owns a majority stake in Motherhood Hospitals.
It will perhaps be the second largest hospital buyout in India, after the IHH-Fortis transaction in 2018.
Investment banks Rothschild and Barclays are advising TPG on the sale process.
MB Bureau