Ivy Health and Life Sciences: Indiarf picks up majority stake in Punjab-based hospital chain Ivy for Rs 525 cr

India Resurgence Fund (Indiarf) on Tuesday introduced a Rs 525 crore funding to amass a majority stake in Punjab-based company hospital chain Ivy Well being and Life Sciences. The Piramal Enterprises and Bain Capital funding platform might be buying Ivy’s services at Mohali, Amritsar, Khanna, Hoshiarpur and Nawanshahr as a part of the transaction, as per an official assertion.

The transaction features a “sizeable infusion” of development capital, which might be utilized by Ivy to enhance current services and increase its footprint to different cities in Punjab and adjoining areas, it added.

That is the maiden funding for the fund within the healthcare sector, the assertion mentioned, including that the 2008-incorporated Ivy operates a portfolio of 800 beds in other places in Punjab, Himachal Pradesh, Haryana and Jammu and Kashmir, the place 3 lakh sufferers get handled yearly.

Indiarf MD Shantanu Nalavadi mentioned after COVID-19, there’s an emphasis on multi-speciality regional hospitals, whereas the deepening insurance coverage penetration has made sufferers search for high-quality healthcare nearer to residence, resulting in investor curiosity.
“Ivy has demonstrated its prowess as a regional healthcare supplier, catering to all segments by offering high quality medical providers at reasonably priced costs. We’re excited to put money into Ivy and are dedicated to accelerating its development with a continued deal with delivering high quality affected person care,” Nalavadi added.

The corporate’s chairman and managing director Gurtej Singh mentioned Ivy is the most important healthcare group in Punjab and has over 3,000 healthcare professionals tending to sufferers.