o3 Capital acted as the Exclusive Financial Advisor to TPG Growth backed CARE Hospitals on its acquisition of Indore based CHL Hospitals

CARE Hospitals is part of the global impact driven healthcare platform, Evercare Group, owned by the leading private equity investor, TPG Growth. Starting out as a single specialty cardiac hospital in 1997, CARE Hospitals today has evolved as India’s leading multi-specialty hospital network with 15 healthcare facilities across six states with more than 2,400 beds offering comprehensive care in 30+ specialties. It is the first hospital group which has established a strong presence in tier-2 cities in India.

Established in 2001, CHL Hospitals is the first corporate hospital based in Madhya Pradesh and one of the largest private hospital groups in Central India, with strong clinical expertise in cardiology / cardiac sciences, neuro sciences, GI, liver transplants, renal sciences and critical care.

“We welcome CHL Hospitals to the CARE Hospitals network and are excited by the potential to create greater accessibility to high end clinical care to patients with our combined expertise in Central India. As a national chain, CARE Hospitals has always been at the forefront of providing quality healthcare to the patient community in tier-2 cities and our hospitals are leading providers in each of these cities. This partnership with CHL Hospitals consolidates our presence further, with a leadership position in a key geography of the country”, said Jasdeep Singh, Group CEO, CARE Hospitals.

On the transaction, Mohit Khullar, Managing Director at o3 Capital said, “The acquisition is highly synergistic to CARE Hospitals’ regional expansion strategy, propelling it to a pole position in Central India. CHL Hospitals’ market leadership, medical infrastructure and strong clinical capabilities complement CARE Hospitals’ vision of providing high quality healthcare services in the under-served tier-2 cities of India. The acquisition is in line with the larger consolidation theme playing out in the hospitals segment in India, wherein PE backed platforms are expanding through acquisition of high quality regional leaders.”

This deal marks o3 Capital's 12th deal closure in the Healthcare & Lifesciences space in the last 18 months. The deal also highlights o3 Capital’s strong credentials in the healthcare delivery segment and reinforces our position as an advisor of choice for businesses and investors.