International Finance Corporation, Sabre back Global Hospitals - Times of India

The author has posted comments on this articleReeba Zachariah & Boby Kurian, TNN | Apr 23, 2013, 05.02AM IST MUMBAI: International Finance Corporation (IFC) and private equity investor Sabre Partners will make Rs 225 crore equity investment in India's fourth largest healthcare network, Hyderabad-based Global Hospitals, said people directly involved with the process. The deal values Global Hospitals at about Rs 1,000 crore giving the two investors about 15% stake in the company, with more than 2,100 beds across Hyderabad, Bangalore, Chennai and Mumbai. The World Bank's private funding arm IFC will lead the investment with a little over Rs 150 crore, while Sabre is expected to bring in about Rs 70 crore, sources added. A final deal is likely to be clinched in the next few days. Investment bank Veda Corporate Advisors is the advisor to the transaction. Financial investors will now hold 49% shares in the healthcare chain founded by a group of medical professionals led by Dr K Ravindranath, which already has Everstone Capital with about 35% interest. Ravindranath could not be reached for immediate comments. Sabre Partners is best known for building Centurion Bank of Punjab, which was merged with HDFC in one of the largest banking sector consolidation moves. PE firms last year invested almost $500 million into healthcare sector as people start spending more on healthcare in Asia's third largest economy. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH3hZqOUOTHnQ7eUZp2q8ciiwtReA&url=http://timesofindia.indiatimes.com/business/india-business/International-Finance-Corporation-Sabre-back-Global-Hospitals/articleshow/19687681.cms

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