KOCHI: Private equity firm TPG Growth has acquired Rhea Healthcare , a closely held company promoted by the family members of actor Mammootty, for $33 million (around Rs 222 crore). Mammootty and his son Dulquer Salmaan are directors at Bangalore-based Rhea Healthcare. It operates a network of mother and child care centres in India under the ‘Motherhood’ brand. “This latest investment reinforces our sector focus on healthcare in India and globally,” said Puneet Bhatia, managing director and country head for TPG in India.
Motherhood has built a network that offers state-of-the-art technology, including high-end neonatal intensive care units, and a team of experienced gynecologists, neonatologists and pediatricians, said the statement.
“Motherhood was built to provide specialty care in the mother and child segment, as the current generation of first-time parents are increasingly looking for a safer and more comfortable birthing experience. We look forward to partnering with TPG Growth to expand our footprint across India and enhance the treatment options we offer to patients,” said Mohammed Rehan Sayeed, Chairman, Motherhood Hospitals.
TPG Growth’s investment in Motherhood is the latest in a series of healthcare investments the fund has made in India and the region. In April 2016, TPG Growth invested in Cancer Treatment Services International (CTSI), a network of single-specialty facilities across India, and in December 2015, TPG Growth invested in Asiri Healthcare, Sri Lanka’s leading hospital and diagnostics chain.