InvAscent Invests $30M in Apex Hospitals, Becoming Majority Shareholder
InvAscent has invested approximately USD 30 million (₹265 crore) in Apex Hospitals, marking a significant development in the healthcare sector. The transaction was advised by JSA, with Siddharth Mody, Rohan Kumar, and Niharika Rao leading the team.
The deal saw InvAscent acquire a substantial stake in Apex Hospitals through primary and secondary funding. Post-transaction, Apex Hospitals' promoters will retain majority ownership and continue to lead operations. Notably, InvAscent has become the new majority shareholder.
Somerset Indus Capital Partners, which invested in Apex Hospitals in May 2019, achieved a complete exit, realizing a 4x return on invested capital. During Somerset's holding period, Apex Hospitals witnessed remarkable growth, tripling its revenue and recording a four-fold increase in EBITDA.
The new capital infusion from InvAscent will support Apex Hospitals' expansion into western and northern India, indicating a promising future for the healthcare provider. Despite the change in majority ownership, Apex Hospitals' promoters will continue to lead operations, ensuring business continuity.
