ICICI Venture Buys a Minority Stake in KIMS Hospitals for US$36 Million (Asia)

Source: VCCircle | Author(s): Jasleen Kaur Batra

Private equity firm ICICI Venture has acquired a 28 percent stake in India-based hospital operator Krishna Institute of Medical Sciences (KIMS Hospitals) for INR2.2 billion (approximately US$36 million). The transaction, which was structured through ICICI Venture’s Advantage Fund Series 3, involved a fresh infusion of capital, as well as a secondary component through which health care-focused private equity fund manager Quadria Capital exited its investment. Quadria Capital invested INR600 million (approximately US$12 million), structured through its India Build-out Fund I, in KIMS Hospitals in 2009.