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KKR to spend $200M for 49% stake in Radiant Life Care

July 19, 2017

KKR, one of the largest PE investors in the world, signed a definitive agreement on Monday to invest $200 million for a 49% stake in Radiant Life Care.

ET was the first to report the deal on June 2. Radiant Life Care, which runs two hospitals in New Delhi and Mumbai, is looking at consolidating the fragmented industry through acquisitions. KKR had earlier lent Rs 450 crore to the company.

“KKR’s investment in Radiant continues the firm’s partnership, as it has previously extended financing to Radiant to support the company’s growth. KKR makes the proposed investment from its KKR Asian Fund III,” the fund said in a release.

“KKR has more than two decades of experience in investing and working alongside healthcare companies. With their expertise, we look forward to expand our business,” said Abhay Soi, chairman, Radiant Life Care. Sanjay Nayar, CEO of KKR India, said, “This is an exciting time for healthcare in India, given the growing demand for superior medical treatment. In this industry, scale and operating leverage are increasingly important, and Radiant has a unique opportunity to acquire assets during a time of industry consolidation. KKR is focused on providing long-term capital solutions to experienced healthcare partners like the Radiant team to continue their work to deliver high-quality care and services.”

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