InvAscent-backed Ankura Hospitals may raise ₹400-500 crore, appoints banker

The Hyderabad-based company has appointed Alvarez & Marsal as advisors to facilitate the capital raise and the deal is expected to be launched in the coming weeks, sources said.

“Various growth phases will be touched upon as part of the process,” one of the people said, adding that the company has received some interest from strategies as well as for minority stakes in the company.

“Current investor InvAscent “He may also partially or fully exit his 7-year minority stake during this period,” he said. A second person familiar with the matter added that the exact deal structures have not yet been determined. All three people spoke on condition of anonymity.

This development comes less than a year after the company raised funds to expand its operations and at a time when investor interest in the maternal and child care market has been steadily increasing over the past few years, driven by a growing population, greater awareness, policy support and rising healthcare spending.

A spokesperson for Ankura said: “As a matter of policy, we do not comment on market speculation or matters relating to shareholders or external advisors. What we can share is that Ankura continues to pursue expansion plans in line with our long-term strategy, maintaining a strong focus on clinical quality and patient experience across all our centres.” he said.

“We have no comment,” InvAscent said in a mailed statement, while Alvarez & Marsal did not respond mint Requests for comments pending publication.

Ankura grew in March ₹165 crore from Asian Development Bank to strengthen its presence in the market. At that time, the company had outlined plans to set up new facilities in key cities in India.

The company was last valued on: ₹877 crore by 2025, according to Tracxn.

Founded in 2011 by Krishna Prasad Rao Vunnam, Ankura Hospitals started with the aim of providing child care and eventually grew into a hospital network. hospitals He specializes in a variety of areas, including pediatrics, obstetrics and gynecology. According to the company’s official website, the company has more than 600 doctors and more than 1,500 patient beds.

Ankura Medical & Research Center Pvt Ltd, the entity operating the chain, has announced consolidated revenue so far: ₹376 crore for FY24, according to Tracxn data.

Maternal and child care market

Overall, the maternal and child care segment in India has seen increasing investor interest from private equity and strategic players. Earlier this week, Novo Holdings acquired a 49% stake in Surya Hospitals.

According to reports in October, Kerala-based Sabine Hospital has raised $50 million from investors, including its acquisition of Cloudnine Hospitals, with CX Partners and Temasek reportedly bidding for Apollo Cradle and Children’s Hospital (ACCHL) in a deal valued at around $200 million. ₹1,500 crore. Previously, KKR had invested in Kerala-based Baby Memorial Hospital in 2024.

Although clear estimates for the maternal and child care segment are not available, various reports estimate India’s overall healthcare sector to be worth $98.98 billion in 2023 and the value is projected to reach $193.59 billion in the next six years.