Everstone To Buy Controlling Stake In Sahyadri Hospitals
A sign showing the direction to different medical departments hangs in a general ward of a hospital in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Everstone To Buy Controlling Stake In Sahyadri Hospitals

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Private equity player Everstone Group will acquire a controlling stake in Sahyadri Hospitals Ltd., a Maharashtra-based hospital chain, for an undisclosed amount, according to a release.

Pune-headquartered Sahyadri Hospitals operates five tertiary care and three secondary care hospitals with 750 beds across Pune, Nashik and Karad areas.

In a release on Sunday, Everstone said it has signed an agreement to buy a controlling stake in Sahyadri Hospitals.

"The combination of primary and secondary capital outlay is expected to increase the bed-count significantly in the next five years," the release said.

Everstone would leverage its significant healthcare expertise and experience to grow the overall business, Everstone Group Chief Executive Officer Sameer Sain said.

The group's healthcare portfolio includes controlling stakes in domestic pharma distribution platform Ascent Health and South East Asia-based diagnostic device platform Everlife.

Also read: Baring Private Equity To Acquire NIIT Technologies For $706 Million

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