KOCHI: Private equity (PE) firms Olympus Capital Asia Investments and India Value Fund Advisors have bought a minority stake in Aster DM Healthcare for $60 million (around `354 crore), according to a press statement.
Aster DM, which plans to go for an Initial Public offer, will use the funds to expand its presence in India and West Asia.
Aster DM, headquartered in Dubai, runs hospitals in Kerala and Maharashtra. In Kochi, it operates a 1,000-bed quaternary care hospital. It plans to set up more units in southern and western India. Its new facility in Bangalore is set to begin operations soon.