Artemis Medicare Services Secures INR 330 Cr Investment from IFC

Artemis Medicare Services currently operates a total of 713 beds, primarily in the Delhi-NCR region.

Artemis Medicare Services has raised INR 330 Cr from International Finance Corp. (IFC), a member of the World Bank Group. This significant investment will fuel the company's ambitious expansion plans and bolster its presence in the healthcare sector.

The company's committee of directors on the preferential issue has approved the allotment of fully paid unsecured compulsorily convertible debentures worth INR 330 Cr to IFC, per the company's statement.

A Compulsory Convertible Debenture (CCD) is a bond that must be converted into equity upon reaching its maturity date or when specific events occur. Unlike optional convertible debentures, where investors have the choice to convert, conversion of CCDs is mandatory.

Combining elements of both debt and equity, CCDs are frequently utilized by startups and growth-stage companies that need capital for expansion but are not yet prepared to issue equity.

Artemis Medicare Services stated that this financial boost will be pivotal in improving healthcare accessibility and quality across its service regions. The funds will support growth in bed capacity, the introduction of new medical treatment specialties, and the establishment of cardiac care centers in Tier II and III cities.

Strategic Vision & Expansion Plans

Onkar Kanwar, chairman of Artemis Medicare Services, expressed enthusiasm about the partnership with IFC, highlighting its alignment with the company's vision of creating an integrated world-class healthcare system.

"IFC's partnership aligns with our vision and mission to create an integrated world-class healthcare system and introduce cutting-edge technologies to solve complex health issues for all sections of society," Kanwar said.

Kanwar further elaborated on the company's ongoing and future expansion efforts. "We are already in advanced stages of adding around 200 new beds through our brownfield expansion in our flagship hospital. This investment will allow us to further expand our coverage in

Delhi-NCR and select tier 2 and 3 cities," he added.

Current Operations & Future Prospects

Artemis Medicare Services currently operates a total of 713 beds, primarily in the Delhi-NCR region.

This includes a 541-bed quaternary care super specialty hospital in Gurugram, which is certified by both the Joint Commission International (JCI) and the National Accreditation Board of

Hospitals and Healthcare Providers (NABH).

Additionally, Artemis manages five hospitals under the Artemis Lite and Daffodils brands.

The infusion of capital from IFC is expected to significantly enhance Artemis Medicare Services' ability to expand its healthcare services, introduce advanced medical technologies, and improve the overall quality of care for patients in underserved regions.

In a similar investment development, Healthcare-focused private equity (PE) firm Quadria Capital invested INR 850 Cr in NephroPlus, India's leading dialysis player.

According to the PE firm's official statement, this investment marks Quadria's acquisition of a significant minority stake in NephroPlus through a combination of primary investment and the purchase of shares from existing shareholders.

The transaction aims to support Hyderabad-based NephroPlus in catering to the growing demand for high-quality and affordable dialysis services in India and other Asian markets.