Private equity investor the Abraaj Group is set to acquire a majority stake in Quality CARE India Ltd, the entity behind Care Hospitals, from PE firm Advent International.
- The Group will pick up the 72% held by Advent.
- The deal is estimated to be around 2,000 crore.
- Abraaj and CARE’s management team will focus on expanding CARE’s integrated healthcare delivery system, especially in the under-penetrated regions of India.
About CARE:
- Founded in 1997 by Dr. B.Soma Raju and others, the Hyderabad-headquartered multi-specialty healthcare provider CARE operates 2,600 bedsacross 16 hospitals in nine cities.
About Abraaj Group:
- Formed in 2002, operates in Asia, Africa, Latin America, the Middle East and Turkey. It has over 20 offices spread across five regional hubs in Dubai, Istanbul, Mexico City, Nairobi and Singapore.
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