Financial Investment Firm Unaprime Acquires 43.5% Stake in Lokmanya Hospital for INR 140 Cr

Financial investment advisory company Unaprime has acquired Tata Healthcare Fund's 43.5% stake in Maharashtra-based Lokmanya Hospitals for a whopping sum of INR 140 Cr.

With this move, the financial investment advisory company diversified into the private equity asset management business.

Unaprime also purchased shares from other existing investors, said Unaprime’s founder Deep Mishra.

Reportedly, this acquisition increased Unaprime’s total shareholding in the hospital company by 70%.

Sharing thoughts, Mishra said, "We have paid Rs 140 crore as total consideration for the stake acquired. We will invest whatever it takes to expand the capacity upwards and eventually take the company public."

Maharashtra’s Lokmanya Hospitals has five hospitals located in Pune, Pimpri-Chinchwad, and Kolhapur. Currently, the hospitals have an existing capacity of 300 beds.

Further, it plans to expand its capacity from 300 to 500 beds. Moreover, the company recorded a turnover of INR 130 Cr for 2023-24, and it has set a target of INR 500 Cr over the next four years.

Unaprime has put together a special purpose vehicle (SPV), Unaprime Healthcare LLP, for the acquisition of Lokmanya Hospitals.

Additionally, the SPV has investors such as Bajaj Finance’s managing director Rajeev Jain and Global Hospital’s founder Ravindranath Kancherla, Mishra said.

Recent Acquisitions in the Healthcare Space

Days back, Medanta Hospital's operator, Global Health, acquired a 2.2-acre plot in Oshiwara, Mumbai, for INR 125 Cr through an e-auction conducted by the Maharashtra Housing and Area Development Authority (MHADA).

This plot is designated for the construction of a new hospital facility. With this acquisition, healthcare giant Medanta Hospital is set to bring its new facility with advanced technologies and medical services to Mumbai.

In a similar development, last month, MGM Healthcare, a Chennai-based multi-specialty quaternary-care healthcare group, expanded its operations by acquiring SevenHills Hospital in Visakhapatnam.

This acquisition was part of the corporate insolvency resolution process for SevenHills Healthcare. With this strategic move, MGM Healthcare crossed the milestone of over 1,000 beds within just five years since its inception.

Likewise, Hyderabad-based Krishna Institute of Medical Sciences (KIMS Hospitals) acquired Vizag-based Queen's NRI Hospital for INR 75 Cr. The acquisition, involving the purchase of the entire stake in Chalasani Hospitals, which owns Queen’s NRI Hospital, is expected to be completed within a month.