Sri Kauvery Medical Care, which runs the Kauvery Hospital chain healthcare centres in the state of Tamil Nadu, has raised Rs 140 crore equity capital from LGT Lightstone Aspada.
Mid-market investment advisory Veda Corporate Advisors assisted Kauvery Hospital in the transaction.
The proceeds will be used to strengthen the Kauvery Hospital’s presence in Tamil Nadu. It intends to expand its footprint across South India.
The healthacre chain is looking forward to add 12-15 hospitals with an aggregate capacity of more than 3,000 beds to its network over the next three to five years with a major focus on South India.
The expected funds to be deployed for the proposed expansion will be about Rs 7,000 crore. The expansion will be carried out through a mix of strategic partnerships, acquisitions and brownfield hospitals.
Kauvery Hospital has presence in five cities in Tamil Nadu spanning Tier-I and Tier-II markets in Trichy, Chennai, Salem, Hosur and Kariakudi.