Hyderabad-based Asian Institute of Gastroenterology (AIG) Hospitals has denied media reports that its promoters are looking to sell controlling stake in the hospital chain. In a statement issued on Friday, Chairman of the hospital Dr D Nageshwar Reddy said: “It has come to notice that in some sections of the media, reports are being circulated about the majority stake sale equity by the promoters of AIG Hospital. On behalf of the promoters and senior management, I wish to clarify that there is no truth in such reports and that the promoters of AIG Hospitals have no intention of diluting their stakes.”
Dr Reddy said that the promoters are committed to holding majority stake and continue the journey of high-quality and affordable healthcare. According to the media reports, Chairman Dr Reddy and Quadria Capital are together planning to sell 60-70% stake in the hospital chain, which is one of the best-known gastroenterology hospitals in India. Quadria Capital holds 30% stake in the hospital and the rest is held by the promoters. As per reports, prospective buyers have valued the hospital chain at around Rs 5,000 crore.
Earlier, Samara Capital had 14% stake in the hospital chain, which it sold out to Quadria Capital in 2019 taking the latter’s total stake to 30%. Established in 1986 under the aegis of Asian Institute of Gastroenterology, AIG Hospitals run two hospitals in Hyderabad - a 800-bed hospital at Gachibowli and another 300-bed hospital in Somajiguda.
It is a state-of-the-art super specialty hospital and is known as a global leader in undertaking transplant surgeries such as liver, kidney, heart, pancreas and islet cell. Its tertiary care services include gastroenterology, organ transplantation, oncology, cardiology, nephrology, urology, obesity and metabolic therapy, pulmonology, liver sciences and hepatology.