GIC boosts investment by $150m in Asia Healthcare Holdings

Asia Healthcare Holdings (AHH), which runs a specialty hospitals focused healthcare platform, has received $150 million of backing GIC, Singapore’s sovereign wealth fund.

This follows GIC’s first investment of $170 million in AHH in February 2022; AHH is also backed by alternative asset manager TPG.

Bangalore-headquartered AHH has invested approximately $300 million across hospital chains in Oncology, Mother & Childcare, Urology & Nephrology, and IVF & Fertility under daycare specialty.

AHH’s platform includes Motherhood Hospitals, Nova IVF, and Asian Institute of Nephrology & Urology (AINU) hospitals. Motherhood is a pan-India chain of mother and childcare hospitals offering services from pre-conception to post-birthing care for women and a services under pediatric care, including the largest network of Neonatal Intensive Care Units (NICU).

Nova is a leading fertility solutions provider offering best-in-class IVF services across South Asia. AINU is India’s only Urology & Nephrology specialty hospital network which has advanced urological care, including robotic surgery and high-end nephrology procedures.

“We started AHH as a healthcare delivery platform that would invest, transform and grow single specialty enterprises under one holding company,” said Vishal Bali, executive chairman, AHH, in a statement. “Over the years, our differentiated investment approach has since delivered strong growth opportunities to bridge the demand / supply gap of healthcare services in India.”

“Looking ahead, we continue to see huge growth opportunities in single specialty healthcare delivery enterprises. AHH’s distinct operating model, and the synergies we can leverage from the scale of the platform will enable us to replicate our success across new specialties we bring under our fold. GIC and TPG Growth’s long-term commitment to AHH is the catalyst to accelerate our growth,” Bali added.

Choo Yong Cheen, chief investment officer of private equity, GIC, noted: “As a long-term investor, we are confident in India’s single specialty healthcare sector, which has strong tailwinds for growth driven by increasing per capita income, urbanisation, high awareness of specialty care, and improved supply of high-quality clinics. AHH’s potential to expand into newer sub-segments positions it well for continued success.”

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