In April 2012, Advent International announced a partnership with the founders of CARE Hospitals (“CARE”)
CARE is a multi-speciality hospital chain with strength in cardiac care, neurology, nephrology and general medicine. With 11 hospitals and 1590 beds, the chain is ranked number 5 by number of beds and by revenue in India. CARE Hospitals was founded in 1997 by senior Doctors and medical professionals and has grown its capabilities and footprint organically as well as with the help of a number of important JV partners. These partners will be part of the team that will continue to develop and grow the business over time. CARE has hospitals in Vishakhapatnam, Raipur, Bhubaneshwar, Nagpur, Surat and Pune along with Hyderabad, and is poised for further growth and expansion in Tier II cities.
Advent International will provide operational and organisational expertise to add incremental value to the business via its advisors and extensive experience in investing in the health care services companies globally. The value creation plan includes upgrading and expanding existing facilities and adding new specialisations like critical care and gastroenterology. Advent is also committed to strengthening the growth efforts of CARE through potential acquisitions of existing hospitals and building green field projects.