Milestone Religare Investment Advisors has invested Rs 60 crore in Hyderabad-based Krishna Institute of Medical Sciences Limited (KIMS). The hospital offers multispecialty treatment in cardiology, orthopedics, urology, nephrology, dermatology, gynecology with a 300 capacity. The PE funding will be used by KIMS to expand the capacity to 850 beds and offering additional specialties like oncology treatment, liver transplant amongst others over the next 12-18 months. Ernst & Young acted as the sole advisor to KIMS on this transaction.
"There is an immense potential for investments in this sector as increasingly more and more people are getting covered under the health insurance" said Rajesh Singhal, Managing Partner at Milestone Religare.
The investment has been made from India Build-Out Fund 1, a Rs 600 crore private equity fund backed by Religare Enterprises and Milestone Capital. The investment follows the PE firm investment of Rs 25 crore in test preparation firm IMS Learning Resources Pvt Ltd.