Latest news with #AHH
Mint
05-05-2025
- Business
- Mint
GIC-backed Asia Healthcare Holdings to acquire Dr Dangs Labs
MUMBAI : Asia Healthcare Holdings (AHH), backed by Singapore's sovereign wealth fund GIC, is set to acquire a majority stake in Dr Dangs Labs, a diagnostic chain operating in Delhi and Gurugram, according to two people aware of the development. This marks the fourth acquisition by AHH, following previous deals with Motherhood Hospitals, the Asian Institute of Nephrology and Urology (AINU), and Nova IVF. Details of the financial terms of the deal were not disclosed. Read this | Singles are hot: Why private equity firms are increasingly investing in these hospitals AHH's earlier investment in AINU in 2023, valued at ₹ 600 crore, involved both primary and secondary funding. AHH has also seen significant capital inflows, including a $150 million investment from GIC in December 2024, which made the sovereign fund the largest shareholder in the company. GIC had also invested $170 million in AHH in February 2022. Before GIC's additional investment, AHH was majority-owned by global private equity firm TPG, which now holds a minority stake in the platform. The GIC investment likely valued AHH at $800-900 million, Mint reported earlier. With plans to eventually go public, AHH is gearing up for an initial public offering (IPO), although no timeline has been provided. According to Vishal Bali, executive chairman of AHH, profitability is not a concern as the company moves towards its listing, which is expected within the next few years. Dr Dangs Labs operates seven centres across Delhi and Gurugram and reported a revenue of ₹ 67.7 crore for the financial year ended 31 March 2024, according to Tracxn. Read this | Jashvik Capital to acquire over 50% stake in Smart Vision Eye Hospitals Bali has reportedly said that AHH is growing at 25% year-on-year and aims to reach nearly ₹ 6,000 crore in revenue by FY32. AHH declined to comment on the acquisition, and Dr Dangs Labs did not respond to an email request for information at the time of publication. India's healthcare and diagnostics sector has seen a sharp uptick in private equity investments and mergers and acquisitions (M&A) in recent years. According to a report by Grant Thornton Bharat and the Association of Healthcare Providers of India (AHPI), India's healthcare and pharma sector recorded 594 transactions valued at over $30 billion between 2022 and 2024. Foreign direct investment (FDI) in the sector also rose, totalling $3.2 billion during the same period. Also read | India's fragmented hospital sector ripe for consolidation: Rothchild's Hollamby In recent months, there have been notable deals within the diagnostics space. Neuberg Diagnostics raised ₹ 9,400 million from Kotak Alt in January 2025, marking the largest primary fund-raise in Indian diagnostics and the company's first private equity round. Meanwhile, Temasek Holdings and Oswal Alternates jointly invested approximately $85 million in Molbio Diagnostics in 2024, and Fortis Healthcare increased its stake in Agilus Diagnostics from 57% to 91% by acquiring a 34% stake from private equity firms Jacob Ballas and IFC.
What's On
05-03-2025
- Entertainment
- What's On
A new temaki bar is coming to Dubai, brought to you by Neha Mishra of Kinoya fame and Panchali Mahendra of Atelier House Hospitality
Hand rolls for days, coming soon by Neha Mishra and Panchali Mahendra… It's always good news when two F&B powerhouses team up for some food-related quests, and this new pairing featuring some top-tier names comes with the promise of an unmissable dining concept. Neha Mishra, chef, restauranteur, Kinoya, and Panchali Mahendra, CEO of Atelier House Hospitality, bringing to you concepts like 11Woodfire, Gerbou, Mohalla and more, are bringing a brand new concept to the city. Conceptualised, as all great things are, in the spur of a moment at Mishra's birthday celebration at home last year, where a serving of some DIY temaki rolls as a spread inspired an idea between the pair, this is going to be about all things temaki. We all know and love Kinoya, having started as a supper club and now making waves not only in Dubai, but also in London, for some of the best, heart-warming, soul-repairing Japanese ramen around town, casually scoring a Bib Gourmand on the Michelin Guide and the third spot on MENA's 5o Best. This will be a name completely independent of that identity, a new brand sharing no resemblance to any of Kinoya's offerings. Set to be all about temaki, the venture will be a new Japanese dining concept, emphasizing temaki and a unique speakeasy bar with a specialised cocktail program. The menu will feature a diverse selection of temaki, freshly prepared to preserve flavour and texture. The set-up of the venue and the concept will be such that diners will be able interact with chefs during meal preparation, making for a refined, interactive dining experience. The concept is set to open in the third quarter of 2025. It's being expected that the opening will be between August and September, explained Mishra in an Instagram post announcing the upcoming collaboration. 'We are excited to introduce this interactive dining concept, which combines culinary artistry with engaging experiences. Tailored to resonate with the city's appetite for innovative Japanese cuisine, doing this with one of the most talented chefs in the city, and my friend, is going to be a fun ride,' said Panchali Mahendra, in an official press statement. 'As a gaijin who has dedicated their life's work to the pursuit of understanding and creating (my own adaptation of) Japanese cuisine, this feels like a natural progression. Other than being a chef, creating concepts and being an operator appeals to me equally — this time from a unique perspective of being a conductor of the orchestra and allowing the craftsmanship to come from the masters. The partnership, experience, and infrastructure that AHH brings give strength and support to our collective vision,' added Neha Mishra. Stay tuned for all the exciting developments – we know we'll be… @astoryoffood, @atelierhousehospitality, @panchalimahendra Images: @neovikram > Sign up for FREE to get exclusive updates that you are interested in
