Healthcare-focused private equity fund OrbiMed has invested an undisclosed amount in Faridabad-based hospital Asian Institute of Medical Sciences (AIMS), a part of Blue Sapphire Healthcare Private Limited.
“OrbiMed’s investment and involvement will facilitate our next stage of growth and we look forward to a great journey ahead,” said NK Pandey, chairman & MD of Asian Institute of Medical Science.
The hospital which was set up in 2010 has a capacity of 350 beds. The company plans to increase its reach by focusing on NCR and smaller towns in North India and set up 1,000 beds by 2017.
As part of the transaction, Sunny Sharma who heads OrbiMed’s Indian unit, will join the company’s board.
“Dr Pandey and his team have done a terrific job building reputation and trust through clinical excellence and putting the needs of the patients first. We look forward to working with Asian Hospital towards its continued success” said Sharma.
OrbiMed with around $9 billion in assets under management is the largest healthcare focused fund in the world. This is its first investment this year. The PE players has earlier invested in companies like biotechnology company Bharat Serums, healthcare service provider Codis India, clinical research company Ecron Acunova, drug maker Shasun Pharmaceuticals and hospital chains KIMS and Surya Children’s Medicare.