AZB & Partners represented KKR in their recent acquisition of a majority stake in Baby Memorial Hospital Limited, which is one of the leading regional multi-specialty hospital chains in South India.
The hospital provides comprehensive services with specialized treatment across 40 medical and surgical departments including cardiology, oncology, neurology, gastroenterology, pediatric and orthopedic care.
AZB’s deal team comprised Senior Partner Nandish Vyas, Senior Associates Karun Jhangiani and Anish Patel, Associates Shivam Gupta and Rishav Sen. They were supported on due diligence aspects by Senior Associate Vyoma Mehta, Associates Avani Jain, Shivam Gupta, Pavit Kaur, Rishad Mehta and Meghna Somani; on real estate aspects by Partner Malini Raju and Associate Prannathi Ajith Kumar; on employment law aspects by Partner Nishanth Ravindran, Associates Aditi Chaturvedi and Thangam Chandy; on IP aspects by Senior Associates Rashmee Kumar and Rhea Ghanshani; on litigation aspects by Senior Associate Asadulla Thangal and Associate Prince Todi; and on CCI aspects by Partner Bharat V Budholia and Senior Associate Varun Thakur.
KKR’s investment aims to bolster Baby Memorial Hospital’s (BMH) mission to meet the rising demand for high-quality, accessible healthcare in India. The funding will aid BMH in expanding its pan-India hospital network through both organic and strategic growth approaches. The exact amount of the investment and further details have not been disclosed by the company. However, according to Economic Times, KKR is expected to acquire approximately a 70 percent controlling stake in Kerala’s Baby Memorial Hospital for about $300 million (Rs 2,500 crore).
Established in 1987 by Dr. K G Alexander, Baby Memorial Hospital operates a chain of multi-specialty hospitals in Kerala, with a total of 1,000 beds across facilities in Calicut and Kannur. The hospital offers specialized care across 40 departments, including cardiology, oncology, neurology, gastroenterology, pediatrics, and orthopedics.
Akshay Tanna, Partner and Head of India Private Equity at KKR, commented, that the investment in BMH underscores our ongoing focus on the Indian healthcare sector and they are excited to partner with Dr. K G Alexander and his family to help BMH expand its hospital network and enhance its medical infrastructure, aiming to extend its services to a broader patient base across India; leveraging KKR’s extensive network and healthcare expertise to drive BMH’s growth and impact.
Dr. K G Alexander, Founder and Chairman of Baby Memorial Hospital, expressed that KKR’s investment reflects their steadfast commitment to providing accessible, high-quality healthcare services.
KKR’s investment comes from its Asian Fund IV and is part of a broader trend of healthcare investments in India and the Asia-Pacific region, including other notable transactions such as those involving Max Healthcare, Healthium, and JB Pharma.
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