4 days ago
Apollo Hospitals plans to sell maternity care arm
Apollo Hospitals
Enterprises, India's largest private hospital chain, plans to sell
Apollo Cradle and Children's Hospital
(ACCHL), a chain of maternity and
infant care hospitals
, multiple people familiar with the development said. Apollo has hired Allegro Capital to find a buyer for the asset, which is likely to be valued at ₹1,000-1,200 crore, they said.
The sale process has been launched and the banker has sounded out to a bunch of leading
private equity funds
.
An email sent to Apollo Hospitals spokesperson for comments on Friday did not elicit any responses till the press time on Sunday.
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ACCHL, a subsidiary of Apollo Specialty Hospitals, has about 363 beds under 13 hospitals across cities like Delhi, Bengaluru, Chennai, Hyderabad, Amritsar, Gurugram, Noida and Ghaziabad. For the year ended March 2024, ACCHL recorded a net loss of ₹17 lakh, according to Apollo's annual report.
The
mother and child care market in India
is estimated at about ₹30,000 crore a year and is expected to grow 15% compounded annually over the next few years. The market is currently dominated by a handful of private hospitals such as Apollo Cradle, Hyderabad-based
Rainbow Children's Medicare
, and Bengaluru-based chains Motherhood, Cloudnine Hospitals and Kangaroo Care.
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British International Investment Plc-backed Rainbow got listed in 2022 and has a market cap of ₹14,260 crore as of Friday. Motherhood is backed by TPG Growth and Singapore's GIC, while Cloudnine is backed by domestic PE fund True North, TPG NewQuest, Temasek and Peak XV.
Indira IVF, the country's largest fertility clinics chain owned by EQT Partners, entered into maternity and childcare with the launch of MatCare Maternity & Child Hospital in March.
Private equity firm SeaLink Capital Partners and the promoters of Surya Children's Medicare are, meanwhile, looking to sell a majority stake in western India's largest children's hospital chain. A deal is expected to value the company at ₹1,000-1,200 crore, ET reported last year. As of March 31, 2024, Apollo Hospitals had a capacity of 10,134 beds across 73 hospitals in India and overseas. Of these, 8,710 beds are located in 45 owned hospitals, 271 beds in 11 daycare/short surgical stay centres, and 790 beds in six hospitals under management through operations and management contracts.
