Advent to invest $328.5 million in India's Yatharth Hospital for 24.9% stake

Sept 17 — U.S.-based private equity firm Advent International ​said on Thursday it will invest 31.5 billion rupees ($328.53 million) in Yatharth ‌Hospital for a 24.9% stake, sending shares of the ⁠Indian hospital operator ​to a record ⁠high.

Shares rose as much as 8.6% ‌to an ‌all-time high of 1,067 rupees.

The deal adds ⁠to a wave ⁠of private equity investments in India's healthcare sector.

Last month, KKR signed a deal to acquire Swedish healthcare provider Medicover's India business for $1.4 billion, while Blackstone ‌bought a controlling stake ​in Hyderabad-based CARE Hospitals in 2023. In the same year, BPEA EQT acquired a majority stake in fertility-services provider Indira IVF.

Yatharth Hospitals was established in 2008 and primarily operates in northern ​India. It operates nine multi-speciality hospitals ‌with about 2,800 ‌operational ⁠beds and plans to increase capacity to 3,250 beds.

After the investment, the founding Tyagi family will remain Yatharth Hospital's ‌largest shareholder, the statement ​added.

($1 = 95.8825 Indian ‌rupees)

(Reporting by Urvi ⁠Dugar ​in Bengaluru; Editing by Nivedita Bhattacharjee and Eileen ​Soreng)

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