ICICI Venture in talks to buy stake in KIMS Hospitals.

With more private equity (PE) funds looking for exits from their five-to-six-year-old investments, year 2014 is set to witness a lot of secondary transactions where PEs sell stakes to another PEs. In a recent development, ICICI Venture is in talks to acquire stake in Andhra Pradesh-based hospital chain Krishna Institute of Medical Sciences Ltd. (KIMS).

According to sources in the know, ICICI Venture plans to buy a 15 -20 per cent stake currently held by Quadria Capital Investment Advisors, an independent Asia-focused health care private equity fund, apart from another 10 per cent stake from the management. ICICI Venture is likely to invest Rs. 150-180 crore in KIMS, sources added.

Currently, Krishna Institute of Medical Sciences provides a total of 1,600-bedded super specialty services across Andhra Pradesh. It has a 300-bedded super specialty hospital in Secunderabad.


BS