Advent to invest $329m for 24.9% stake in India’s Yatharth Hospitals
Advent International is investing INR31.5bn ($328.5m) in Indian hospital operator Yatharth Hospitals for a 24.9% stake, adding to a growing list of private equity investments targeting the country’s healthcare sector, according to a report by Reuters.
Advent International has committed to investing INR31.5 billion ($328.5 million) to acquire a 24.9% stake in Indian hospital operator Yatharth Hospitals, as reported by Reuters. The transaction propelled Yatharth's shares to a new high, surging as much as 8.6% to INR1,067 following the announcement. Yatharth operates nine multi-specialty hospitals, primarily across northern India, and currently boasts approximately 2,800 operational beds.
The company aims to increase its bed count to around 3,250 as it continues to expand its hospital network. Upon the completion of the deal, the founding Tyagi family will remain the largest shareholder of Yatharth Hospitals, according to the company. Advent's investment is one of several private equity deals targeting India's healthcare sector.
Last month, KKR agreed to acquire Swedish healthcare provider Medicover's Indian business for $1.4 billion, while Blackstone acquired a controlling interest in CARE Hospitals in Hyderabad in 2023. Yatharth Hospitals was founded in 2008 and has since expanded its presence across northern India, offering a wide range of multi-specialty healthcare services.
The Advent transaction is a significant minority investment, allowing the founding shareholders to maintain their position as the company's largest owners.
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