Latest news with #ManipalGroup
Time of India
2 days ago
- Health
- Time of India
Wellness and longevity startup Biopeak raises $3 million from Ranjan Pai's Claypond Capital, Accel's Prashanth Prakash, others
Live Events Wellness startup Biopeak has raised $3 million in seed funding from Claypond Capital—the family office of Manipal Group chairman Ranjan Pai—Accel's Prashanth Prakash, and Zerodha's Bengaluru-based startup has launched its first longevity clinic and plans to expand to other metro cities in the coming year. Biopeak offers a personalised preventive healthcare service, combining diagnostics, AI, and concierge-style care to predict health risks and craft tailored intervention plans.'We offer solutions that are predictive, not reactive,' cofounder and CEO Rishi Pardal told ET. The service includes lab tests, imaging such as MRIs and CT scans, and non-invasive diagnostics to assess organ system health and recommend long-term regimens. 'The funding will go towards building our scientific capabilities, expanding the AI platform, and scaling operations,' Pardal at athletes, health-conscious individuals, and people with unresolved chronic issues like IBS, Biopeak's approach integrates traditional diagnostics with AI insights. The startup has partnered with IISc and Longevity India—a scientific forum backed by Prakash—to tailor interventions for South Asian genetics.'There are breakthroughs in cellular tech and AI-led diagnostics, but they're not widely accessible,' said Prakash. 'Medicine 4.0 is about predictive, proactive care using personalised data. Clinics like Biopeak can deliver this new model of healthcare.'Each Biopeak client undergoes over six hours of multidisciplinary consultation, with specialised modules for gut health, women's health, ageing, skin, and musculoskeletal function.
Business Standard
6 days ago
- Business
- Business Standard
KKR lends $600 million to Manipal Group in its largest credit investment
Private equity giant KKR & Co has provided $600 million in financing to the Manipal Group, marking the American firm's largest private credit investment in India to date. The structured capital will support the Ranjan Pai-led group's long-term growth and expansion strategy, the firms said in a joint statement on Monday. The capital was arranged by KKR Capital Markets and is being anchored by the firm's private credit and insurance platforms. Manipal Group has grown into a diversified conglomerate with a significant presence in healthcare, education and health insurance across India and overseas. Its operations reach over 20 million people annually, with Manipal Hospitals—where it owns a 40 per cent stake—emerging as the largest tertiary healthcare network in the country. Founded in 1953 by TMA Pai, thehas grown into a diversified conglomerate with a significant presence in healthcare, education and health insurance across India and overseas. Its operations reach over 20 million people annually, with Manipal Hospitals—where it owns a 40 per cent stake—emerging as the largest tertiary healthcare network in the country. The deal comes amid a broader surge in private credit activity in India, with global investors increasingly stepping into a space that traditional banks and non-banking financial companies (NBFCs) often struggle to serve. By offering flexible capital to both performing and stressed companies, private credit is helping bridge financing gaps while delivering superior risk-adjusted returns to investors. ALSO READ: In the works: Motherson Group's offer to acquire Marelli Holdings Last week, the Shapoorji Pallonji Group raised India's largest private credit deal at $3.35 billion. The infrastructure conglomerate secured the funding by pledging a portion of its Tata Sons stake as collateral, attracting commitments from global investors including BlackRock and Morgan Stanley. India has emerged as one of the largest private debt markets in the Asia-Pacific region and is projected to account for up to 30 per cent of the region's private credit fundraising by the end of 2025, according to a PwC report. 'India is a priority market for our credit strategy, and we look to build on this momentum to be a partner of choice to more high-quality companies on their growth ambitions,' said Diane Raposio, partner and head of Asia credit and markets, KKR. 'This transaction underscores the strength of our global credit platform and our ability to provide strategic, scaled capital solutions to leading businesses,' she added. KKR is channelling the financing through its Asia-Pacific credit strategy and insurance platform. Since 2019, the firm has committed over $8 billion across approximately 60 credit deals in the region, representing a total transaction volume exceeding $21 billion, the company said. 'We are proud to welcome KKR as a strategic partner as we continue to build on Manipal's legacy in healthcare and education. KKR's longstanding India focus and flexible capital approach, as well as alignment with our long-term vision, present a strong fit for us,' said Ranjan Pai, chairman, Manipal Education and Medical Group. The group did not specify where it would invest the proceeds of the debt.
Time of India
6 days ago
- Business
- Time of India
KKR invests $600 million in Manipal Group
Synopsis KKR has invested $600 million in debt funding into Manipal Group, a leading hospital chain in India. This financing, arranged by KKR Capital Markets, will support Manipal's expansion and growth plans by providing flexible capital. KKR's investment, made through its Asia Pacific Credit strategy, reflects its commitment to providing tailored solutions to high-quality companies in the region.
Entrepreneur
6 days ago
- Business
- Entrepreneur
KKR and Manipal Group Announce USD 600 Mn Growth Financing Deal
The funding, arranged by KKR Capital Markets and backed by KKR's private credit and insurance platforms, will help the Manipal Group accelerate its long-term growth and expansion plans. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. KKR, a global investment firm, has partnered with Manipal Education and Medical Group (MEMG), a major Indian conglomerate, in a USD 600 million financing deal. The funding, arranged by KKR Capital Markets and backed by KKR's private credit and insurance platforms, will help the Manipal Group accelerate its long-term growth and expansion plans. Founded in 1953 by Padma Shri Dr TMA Pai, MEMG has grown into a diversified business with operations in healthcare, education, and health insurance. Its hospital arm, Manipal Health Enterprises, is one of India's largest multispecialty healthcare chains. The group also runs Manipal Academy of Higher Education, recognised as an Institute of Eminence by the Indian government. Dr Ranjan Pai, Chairman of MEMG, said, "We are proud to welcome KKR as a strategic partner as we continue to build on Manipal's legacy in healthcare and education. KKR's longstanding India focus and flexible capital approach, as well as alignment with our long-term vision, present a strong fit for us." KKR's Asia Pacific Credit platform focuses on providing tailored financial solutions to top companies and entrepreneurs. Since 2019, it has committed over USD 8 billion across nearly 60 investments in the Asia Pacific region, representing more than USD 21 billion in total deal volume. Diane Raposio, Partner and Head of Asia Credit and Markets at KKR, said, "This transaction underscores the strength of our global credit platform and our ability to provide strategic, scaled capital solutions to leading businesses. India is a priority market for our credit strategy, and we look to build on this momentum." MEMG's investment arm, Claypond Capital, has been actively investing in leading companies like PharmEasy, Zepto, FirstCry, and many others across healthcare, fintech, and consumer sectors. Gaurav Trehan, Co-Head of KKR Asia Pacific, added, "We are pleased to deepen our relationship with the Manipal Group and Dr Ranjan Pai. Their long-standing impact across sectors is remarkable, and we look forward to supporting their continued success." This strategic partnership marks a major step for both KKR and MEMG, aimed at strengthening India's healthcare and education ecosystem while supporting the Manipal Group's mission to reach millions more people.
Mint
6 days ago
- Business
- Mint
KKR provides $600 mn financing to Manipal Group to fuel its corporate expansion
Global investment firm KKR announced on Tuesday that it would finance the Manipal Group with $600 million, making this the firm's largest credit investment in India. The investment, arranged by KKR Capital Markets and anchored by KKR's private credit and insurance platform, will enable the Manipal Education and Medical Group (or the Manipal Group) to accelerate its corporate expansion and growth objectives by providing flexible, structured capital matched to its long-term strategic needs, the two entities said in a statement. 'KKR's longstanding India focus and flexible capital approach, as well as alignment with our long-term vision, present a strong fit for us,' Dr. Ranjan Pai, chairman of the Manipal Group, said in the statement. 'The Manipal Group has built a strong reputation over the decades as one of India's healthcare and education leaders, and we look forward to supporting and contributing to their continued success,' added Gaurav Trehan, co-head of KKR Asia Pacific and head of Asia Private Equity at KKR. KKR is making this investment from its Asia Pacific Credit strategy and insurance platform. Since 2019, it has committed more than $8 billion across about 60 credit investments under the Asia Pacific Credit strategy platform, accounting for a total transaction volume of over $21 billion. Additional details of the transaction were not disclosed. KKR's Asia Pacific Credit platform seeks to provide bespoke solutions to high-quality companies, entrepreneurs, promoters, and sponsors, among other private credit strategies. These solutions harness the strength of KKR's private markets investment capabilities and expertise as one of the largest alternative credit managers globally. 'This transaction underscores the strength of our global credit platform and our ability to provide strategic, scaled capital solutions to leading businesses,' Diane Raposio, partner and head of Asia credit and markets at KKR, said. 'India is a priority market for our credit strategy, and we look to build on this momentum to be a partner of choice to more high-quality companies like Manipal on their growth ambitions,' Raposio added. The Manipal Group is a leading conglomerate in India with various institutions and major businesses, including Manipal Health Enterprises, one of the country's top multispecialty hospital chains, across the healthcare, education, and health insurance sectors.
