VCCircle

Private equity fund Actis has picked up a 41 per cent stake in Hyderabad's Sterling Hospitals for a consideration of Rs 72 crore ($16 million). Sterling, owned by Paras Pharmaceuticals, will use the funds to expand to other cities like Surat and Rajkot in Gujarat, Paras chairman Girish Patel said.

The company will make a preferential allotment to Sterling. The valuation of the 420-bed Sterling Hospitals stands at Rs 175 crore ($38.8 million). Vadodara