India's top gastroenterology hosp AIG up for sale, valuation expected to reach Rs 5,000 cr: Report
Hyderabad/IBNS: AIG (Asian Institute of Gastroenterology) Hospitals promoter Nageshwar Reddy, and investor Quadria Capital plan to offload a controlling stake in the hospital chain, Economic Times reported.
The ET report citing sources said Goldmansachs has been hired to to run the sale process and large PE funds including Carlyle, TPG, Temasek and Baring PE Asia have been approached.
Quadria holds a 30 percent stake in the chain, while the promoters own the rest, according to the report.
Both the investor and the promoters plan to sell about 60-70 percent, including 30-40 percent by the promoters.
The first round of bids is expected in the next 10 days, the report said citing the sources.
The deal is expected to value AIG Hospitals, which has two hospitals in Hyderabad with a total capacity of 1,100 beds, at Rs 4,500-5,000 crore, the report added.
AIG Hospitals was established in 1986 is India’s top gastroenterology hospital. It has two hospitals -- 800 bed facility at Gachibowli and another 300-bed hospital in Somajiguda, in Hyderabad.
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