KKR to acquire controlling stake in Baby Memorial Hospital, terms undisclosed

KKR and Baby Memorial Hospital announced the signing of definitive agreements under which funds managed by KKR will acquire a controlling stake in BMH. KKR’s investment will support BMH’s efforts to address the growing need for quality, accessible healthcare services in India by advancing its efforts to build a leading pan-India network of hospitals, including through both organic and inorganic growth strategies. Founded in 1987 by K G Alexander, BMH is a multi-specialty hospital chains in Kerala, with a capacity of 1,000 beds across hospitals in Calicut and Kannur, and planned expansions across the region. BMH provides services with specialized treatment across 40 medical and surgical departments including cardiology, oncology, neurology, gastroenterology, pediatric and orthopedic care. BMH has invested in top-quality grade medical infrastructure and has multiple quality accreditations across hospitals in its network. KKR makes its investment from its Asian Fund IV. The transaction further builds on KKR’s track record in the healthcare sector in India and across Asia Pacific, which includes: Max Healthcare, one of India’s largest hospital networks; Healthium, a leading Indian medical devices company; Infinx, a tech-enabled healthcare revenue solutions provider; JB Pharma, a branded formulations pharmaceutical company in India; Gland Pharma, an Indian pure-play generic injectable pharmaceutical products company; PHC, a provider of medical equipment and clinical healthcare IT systems in Japan; Bushu Pharma, a pure-play contract development and manufacturing company in Japan; and Metro Pacific Hospitals, a private hospital chain in the Philippines. Additional details of the transaction are not disclosed.