ASK Pravi invests $9.7m in India’s OMNI Hospitals

Founded in 2010, OMNI currently operates two hospitals located in the South Indian cities of Hyderabad and Visakhapatnam and offers over 20 specialties including Cardiology, Nephrology, Orthopedics and Pediatrics.

The capital from ASK Pravi Private Equity Opportunities Fund will be used to expand operations into Tier-I and Tier-II towns in South and East India over the next 3-5 years. Anand Vyas, managing partner at ASK Pravi Capital Advisors, will join the board of directors.

OMNI is promoted by INCOR Group, which is developing properties in and around Hyderabad in residential, retail, corporate and healthcare. It is also a partner in PBEL -a JV between Israeli giants Property and Building Corporation (PBC), Electra Real Estate and INCOR Infrastructure.

"OMNI Hospitals has successfully demonstrated the ability to execute and manage a scalable asset-light hospital model. Their philosophy of involving key doctors and creating value through a shared ownership will help the company as it scales up its operations across different towns." Vyas said.

Mumbai-based financial services firm ASK Group teamed up with Pravi Capital Advisors to form ASK Pravi Capital Advisors. It aims to spend $10-15 million on stakes ranging from 25-80% in target companies benefiting from domestic consumption growth in India. The fund focuses on investing in unlisted small and medium sized businesses in non-metro cities.

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• Topics
• South Asia
• Healthcare
• India
• Growth capital
• healthcare