KKR, Temasek look to buy India`s TPG-backed Care Hospitals - Media
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U.S. investment firm KKR & Co Inc, Singapore's Temasek Holdings, and India's Max Healthcare Institute are vying to buy TPG-backed chain of Care Hospitals in a deal worth over $1 billion, Mint newspaper reported, quoting a person aware of the matter.
Private equity investors Blackstone and CVC Capital Partners were also in the race to acquire the hospital chain, The Economic Times had reported in September.
Investor interest in Indian healthcare companies has been rising, with increasing non-COVID-19 patient admissions and a rebound in elective procedures that were kept on hold for the last two years amid the pandemic.
Local media had reported in August that KKR had sold its stake in Max Healthcare through affiliate Kayak Investments for over $1 billion.
While KKR declined to comment, Temasek and Max Healthcare did not immediately respond to a Reuters request for comment.
Started in 1997, Care Hospitals has 16 healthcare facilities in eight cities across six states, it's website states.
KKR and Temasek are also looking for a stake in Ranjan Pai-backed Manipal Hospitals, according to multiple reports.
