General Atlantic acquires majority stake in Ujala Cygnus

US-based private equity firm, General Atlantic has acquired a majority stake in Indian hospital chain Ujala Cygnus. The deal is estimated at Rs 1000-1600 crore for a 70 percent stake.

Ujala Cygnus operates 21 hospitals in tier II and III cities in North India.

The deal includes a primary investment of ₹400 crore in two tranches and a secondary investment of ₹600 crore.

The earlier investors, Eight Roads Ventures, Somerset Indus Capital, and Evolvence Capital, have made a complete exit.

General Atlantic’s former investments in India in the sector include Rubicon Research, ASG Eyecare and Hyderabad’s KIMS Hospitals.
MB Bureau