Apollo Hospitals subsidiary secures $300m capital from Advent International

Apollo HealthCo has also entered a framework agreement to merge with Keimed Private Limited.

Apollo Hospitals Enterprise Limited (AHEL) subsidiary, Apollo HealthCo Limited, has entered a binding agreement to raise equity capital of almost $300m (INR 2,475 Crores) from private equity investor, Advent International.

This move allows the company to build and scale an integrated, omni-channel healthcare ecosystem in India.

In line with this, the subsidiary has entered a framework agreement to merge with Keimed Private Limited in phases over the next 24 to 30 months.

ALSO READ: India spurs healthcare digitalisation with Ayushman Bharat Digital Mission

“Our mission has been to deliver high-quality healthcare to all Indians, at an affordable cost, and with a high degree of reliability and trust.” Prathap Reddy, Chairman, of Apollo Hospitals Group, said.

“With Advent’s investment and the merger of Keimed, the combined entity will be one of the country’s leading retail health companies,” Reddy added.