Hyderabad : 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.