InvAscent has invested $ 30 million (about Rs 265 crore) through a mix of primary infusion and secondary purchase from existing investor Somerset Indus Capital Partners, sources briefed on the transaction said.
Somerset Indus makes a complete exit from Apex with the transaction. Advay Capital Advisors advised both Apex and Somerset on the transaction.
The hospital promoters will retain majority stake and continue to drive the business, the sources said.
Apex Hospitals, founded 30 years ago by Dr SB Jhawar, runs two hospitals in Jaipur, and one each at Bikaner, Sawai Madhopur, Jhunjhunu, Sri Ganganagar and Udaipur with a combined strength of about 1000 beds. The chain is said to be working on its plans to expand into western and northern India. The fresh capital infusion will help pursue that goal, the sources added.
An email to Apex Hospitals, InvAscent, Somerset Indus and Advay Capital did not elicit a response. The founder’s core team comprises managing director Dr Sachin Jawar, and Dr Shailesh Jhawar, Dr Sheenu Jhawar, Kunju Jhawar and SiddhaNt Jhawar.
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