Canada-based investor to buy majority stake in Sahyadri Hospitals Group

Sahyadri has 8 hospitals, and has plans to grow its bed capacity by 500.

Canada-based investor Ontario Teachers' Pension Plan Board has agreed to acquire a “significant majority” stake in Sahyadri Hospitals Group, a private hospital chain in the state of Maharashtra, from the Everstone Group, a press release revealed.

Existing sponsor, Everstone Group, along with key management and founders will retain minority stakes in the company, the company said.

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Sahyadri has 8 hospitals with around 900 operating beds and 300 critical-care beds. In addition, the hospital chain has plans to grow capacity by over 500 beds during the next five years. With 2,000 clinicians along with 2,600 supporting staff across its network of hospitals, Sahyadri’s facilities are concentrated around the city of Pune.

The transaction is expected to close in Q4, the investor said.