by The Welthi Bureau | 27 JUNE 2018
Hyderabad, India– June 27, 2018 – Krishna Institute of Medical Sciences (KIMS Hospitals), a leading multi-disciplinary provider of healthcare services in Andhra Pradesh and Telangana, announced today that it has received a strategic growth investment from General Atlantic, a leading global growth equity firm. As part of the transaction, General Atlantic invested over USD 130 million, in a combination of primary capital and secondary purchases, to acquire a significant minority stake in the company.
Set up in 2004 by Dr. Bhaskar Rao, a renowned cardiothoracic surgeon, KIMS Hospitals has grown to become one of the largest corporate healthcare groups in southern India, with seven multi-specialty hospitals across the region and a capacity of over 2,500 beds.
KIMS Hospitals has focused on delivering high quality healthcare services at affordable prices across metros and smaller cities. Over the last decade, “KIMS Hospitals has established itself as a trusted medical services provider to the masses, “said Dr. Bhaskar Rao, MD and CEO of KIMS Hospitals. He continued, “We are thrilled to partner with General Atlantic as we embark on our next phase of growth to strengthen our presence in underserved geographies. Given General Atlantic’s deep experience of investing in healthcare globally and its network of relationships across leading global healthcare institutions, we are confident that his new association will help KIMS Hospitals deliver on its goal of bringing quality medical care, modern medical facilities, and services within the reach of the common man.”
Sandeep Naik, Managing Director and Head of India and Asia-Pacific at General Atlantic, said, “the combination of an acute shortage in quality healthcare infrastructure and a strong focus from the government to make quality healthcare more accessible, has created compelling secular tailwinds to drive growth for high-quality corporate hospital networks. We believe KIMS Hospitals is uniquely positioned to benefit from these trends.” Shantanu Rastogi, Managing Director at General Atlantic, added “we are excited to partner with Dr. Rao and the broader management and medical teams at KIMS Hospitals. We will work closely with the company on new initiatives and growth opportunities, with the objective to establish KIMS Hospitals as the leading destination for affordable healthcare in India.”
General Atlantic has been active in India since 1999 and has invested over $2 billion in the India and Asia-Pacific region, as of December 31, 2017. General Atlantic focuses on investments across four sectors, including Healthcare, Technology, Consumer, and Financial Services, with support from the firm’s global team of sector and operational experts. The firm has deep expertise partnering with leading healthcare service providers including current investments in Alignment Healthcare, Alternate Solutions, Landmark, and Oak Street Health. General Atlantic’s portfolio of current investments in India includes Absolute Barbeque, Billdesk, Capital Foods, CitiusTech, House of Anita Dongre, IIFL Wealth, Mu Sigma, National Stock Exchange, and PNB Housing Finance.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 115 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com
KIMS Hospitals is one of the leading multi-disciplinary integrated private healthcare services providers in southern India, operating a chain of multispecialty hospitals with focus on tertiary and quaternary healthcare. KIMS Hospitals currently has a network of 7 hospitals across Andhra Pradesh and Telangana, with units in Secunderabad, Kondapur (Hyderabad), Nellore, Rajahmundry, Srikakulam, Ongole and Vishakhapatnam.
It provides comprehensive treatment for complex and chronic diseases covering secondary, tertiary and quaternary healthcare. In addition to providing core medical, surgical and emergency services, it provides complex and advanced quaternary healthcare in various specialties under disciplines such as neurosciences, cardiac sciences, oncology, Orthopaedics, renal sciences, organ transplantation and gastric sciences.
It has well established specialized units such for medical and surgical Epilepsy care (over 700 surgeries performed last year), Robotic Surgeries for key procedures like Gastroenterology, Oncology, Urology and ENT cases (over 500 surgeries done). The cardiac team at Secunderabad has performed the maximum number of cases of Mitral Valve repairs and Bentalls Procedure. It was the first in Hyderabad to use an ECMO machine way back in 2013.
The Secunderabad hospital is the 3rd in the country to have performed adult split liver transplant. It was also the first in the country to do Robotic spleen preserving distal pancreatectomy
The kidney transplant program has seen over 4,000 successful transplants done. It has successfully performed transplants for as young as 14 months to oldest at 69 years
Secunderabad unit is one of the few in the country to have 50 dialysis beds in a single location which operates 24/7.
All its hospitals are equipped with state-of-the-art medical equipment and employ practices and policies which help provide quality healthcare services to patients. It was the first hospital in Hyderabad to install 4-Arm HD da Vinci Robot technology at its hospital at Secunderabad. The flagship hospitals at Secunderabad, as well as the hospital at Rajahmundry and Kondapur have been accredited by the National Accreditation Board for Hospitals and Healthcare Providers, India (“NABH”). The hospital at Secunderabad is accredited with ISO 9001:2008 certification and has also been accredited by the National Accreditation Board for Testing and Calibration Laboratories (“NABL”). The Secunderabad flagship hospital has received the first Green OT certification in the state of Telangana and AP in 2016. The Operation Theatres are audited for their effective usage and disposal of bio medical wastage processes. It has received an award from the Association of Healthcare Providers (India) (“AHPI”) for nursing excellence in 2016 and was ranked number one multi-specialty hospital in Hyderabad by the Times of India Survey in 2015. It has also has been designated as the laureate of the APSIC CSSD Center of Excellence Sliver Award 2015-2016.
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