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Olympus, India Value Fund back DM Healthcare

  • Anita Davis
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Olympus Capital Holdings is considering purchasing a minority stake in Indian hospital owner DM Healthcare for INR600 billion ($125 million).

According to The Times of India, existing investor India Value Fund would join Olympus in the round, with the funds used to expand Dubai-based DM Healthcare's domestic operations. The company owns five hospitals, 38 medical centers and 75 pharmacies under the Aster umbrella, largely located in southern India.

Among DM Healthcare's seven projects in development is the promotion of Kochi as a destination for medical tourists. It also looks to establish a national healthcare network in Mumbai, the newspaper added.

The capital raise comes five years after India Value Fund invested $45 million in DM Healthcare.

The news comes one month after Olympus closed another India deal, buying a "significant minority stake" in Hyderabad-based Vishwa Infrastructures and Services from Axis for more than INR2 billion ($42 million).

Olympus Capital was founded in 1997 and has invested approximately $1.5 billion in more than 30 portfolio companies throughout Asia, including India, China, Japan and South Korea. It has offices in Hong Kong, New Delhi, Shanghai, Seoul, Tokyo and New York.

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