Know About KKR – The American Investment Firm Buying Kozhikode's Baby Memorial Hospital
Making a comeback to India’s medical sector, the KKR & Co has announced the signing of definitive agreements under which funds managed by the firm will acquire a controlling stake in Baby Memorial Hospital (BMH) in Kozhikode, Kerala. The firm is buying from Max Healthcare with the buyout fund set to acquire over 70 percent of controlling stake in the multi-speciality hospital chain for about Rs 2,500 crore, as per a report on the Financial Express.
A joint press statement by the two firms stated that the KKR’s investment will support the BMH’s efforts to address the evolving need for quality, accessible healthcare services in India by advancing its efforts to build a pan-India network of hospitals including organic and inorganic growth strategies.
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KKR – The Leading Global Investment Firm
The American global investment company also known as Kohlberg Kravis Roberts & Co. manages multiple alternative assets including private equity, real estate, infrastructure and more. The firm provides alternative asset management and capital markets solutions for a variety of firms, as per its official website.
Co-founded by Henry Kravis and George Roberts with their mentor Jerome Kohlberg on May 1, 1976, KKR began as a US-focused private equity firm. Now a global company with a variety of capital across the world.
The company’s insurance subsidiaries provide retirement, life and reinsurance products under Global Atlantic Financial Group’s management.
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The American based company is now making its way to the BMH, founded in 1987, which has a capacity of 1,000 beds across its hospitals in Kozhikode and Kannur. KKR stated the new deal is a part of its expansion in India’s (and Asia Pacific’s) healthcare sector including the country’s largest hospital network, Max Healthcare, the Indian medical devices firm Healthium, the tech-based healthcare revenue solutions provider Infinx, the pharma companies Gland Pharma and JB Pharma.
