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.
The transaction sent Yatharth’s shares to a record high, with the stock rising as much as 8.6% to INR1,067 following news of the investment.
Yatharth operates nine multi-speciality hospitals, primarily across northern India, with approximately 2,800 operational beds. The company plans to expand its capacity to around 3,250 beds as it continues to grow its hospital network.
The investment will leave the founding Tyagi family as Yatharth’s largest shareholder, according to the company.
Advent’s deal comes amid increasing private equity activity in India’s healthcare market. KKR agreed last month to acquire Swedish healthcare provider Medicover’s Indian business for $1.4bn, while Blackstone acquired a controlling interest in Hyderabad-based CARE Hospitals in 2023.
Yatharth Hospitals was founded in 2008 and has expanded its presence across northern India, with its network spanning a range of multi-speciality healthcare services.
The Advent transaction represents a significant minority investment while allowing the founding shareholders to retain their position as the company’s largest owners.
