CHENNAI: Hospital chain Kauvery Hospital Group has raised $70 million in investments from a private equity fund managed by IIFL AMC for a minority stake.
“We are preparing for an IPO in the next three years. From the current 1,600 beds, we are scaling up to 3500+ beds through a combination of greenfield and brownfield projects in the next 18-24 months,” Dr S Chandrakumar, founder and chairman, Kauvery Hospitals The group said. “We will also increase focus on mother, child care, and pre and post-operative patient engagement areas, among others,” he added.
Established in 1999, the group now has a network of eight facilities spread across Chennai, Trichy, Bangalore, Salem, Hosur and Tirunelveli. The company is already backed by reputed Indian and global investors Lightrock and Dr GSK Velu’s family office. The healthcare facility offers care across specialties with a strong focus on cardiology, oncology, neurology, renal sciences, orthopaedics, organ transplants and others.
This also marks IIFL PE’s maiden investment in the multi-specialty hospitals segment. Kauvery expects that IIFL PE’s presence on board will accelerate their organic and acquisitive growth across the South India market.
