Sabre Capital-backed Spring Healthcare to invest in Indian hospital groups
Sabre Capital-owned Spring Healthcare is reportedly set to infuse approximately INR100 crore ($21.6 million) in two Indian hospital groups in Tier Two cities, which could potentially give it as much as 40% in each group.
According to local reports, Spring Healthcare could invest nearly half of its allocation in an unnamed South Indian hospital, and the rest into a group that manages three hospitals. Negotiations surrounding the deal are said to be in their final stages, and Spring's stake size would range from 26-40% control in these targets.
Spring Healthcare is an India-focused investment firm and Sabre Capital's only active fund. It is in the process of raising an INR300 crore ($64.8 million) that is expected to be closed at the end of the year, with its first INR150 crore ($32.4 million) raised by December 2009. In the healthcare sector, Spring has a 49% stake in Oyster & Pearl Hospitals, a chain of specialty hospitals focused on woman and childcare, which it picked up in 2007 for $13 million.
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