In a testament to India’s booming healthcare sector, private equity giant KKR has secured a controlling stake in Kerala-based multi-specialty hospital chain Baby Memorial Hospital (BMH) for an undisclosed sum.
This investment, facilitated through KKR’s Asian Fund IV, aims to bolster BMH’s nationwide expansion and medical infrastructure, the private equity firm said in a statement on Monday.
This follows KKR’s recent acquisition of a controlling stake in medical device maker Healthium, reflecting its continued commitment to the Indian healthcare sector, with special focus on building out hospitals with a pan-India network.
KKR’s portfolio also includes JB Pharma, Infinx, and PHC, further solidifying its presence in this rapidly growing market.
Founded in 1987 by K.G. Alexander, BMH operates 1,000 beds across Calicut and Kannur, offering a range of services from cardiology to orthopaedic care.
Akshay Tanna, KKR’s head of India private equity, emphasized the firm’s strategic focus on India’s healthcare, aiming to extend BMH’s reach to more patients across the country.
“We are pleased to be strategic partners with Dr K. G. Alexander and family through this investment, which will aid BMH in expanding its network of hospitals and continuing to invest in medical infrastructure so that its medical services can reach more patients in India,” Tanna added.
KKR had exited from Max Healthcare in 2022 for around ₹9,400 crore, marking its largest exit from an Indian firm.
KKR has also made investments in the consumer sector in India, with a nearly 1.42% stake in Reliance Retail. In November last year, the private equity firm had amassed $2.8 billion for its second global impact firm dedicated to advance sustainability and social equity.