IndiaRF Buys Majority Stake in Ivy Health & Life Sciences for INR 525 Cr

India Resurgence Fund (IndiaRF), an investment platform backed by Piramal Enterprises Limited and Bain Capital, has invested INR. 525 Cr in Ivy Health and Life Sciences (Ivy) for a majority stake buy. O3 Capital served as the exclusive financial advisor to IndiaRF, while Unaprime Investment Advisors played a similar role for Ivy.

Under this transaction, IndiaRF will acquire Ivy's National Accreditation Board for Hospitals & Healthcare Providers (NABH) certified facilities located in Mohali, Amritsar, Khanna, Hoshiarpur, and Nawanshahr. 

This strategic move makes IndiaRF the majority shareholder in Ivy, marking its debut in the healthcare sector and a noteworthy step into the regional hospitals segment in North India.

Additionally, the investment includes a substantial capital infusion to enhance Ivy's existing facilities' scope and quality of patient care services. It also enables Ivy to extend its presence to other cities in Punjab and nearby regions.

Shantanu Nalavadi, managing director of IndiaRF, said,'œIvy has demonstrated its prowess as a regional healthcare provider catering to all segments by providing quality medical services at affordable prices. We are committed to accelerate its growth with continued focus on delivering quality patient care.'

IndiaRF's investment in Ivy aligns with this trend, as Ivy has established itself as a regional healthcare provider offering quality medical services at affordable rates. 

Gurtej Singh, chairman and managing director of Ivy Hospitals, said, "We were the first to recognize the immense potential for quality healthcare in the region. I'm thrilled to begin this new partnership with IndiaRF, as we share a common vision for the future."

Founded in 2008 by Gurtej Singh and Dr Kanwaldeep Kaur, Ivy has become Punjab's largest corporate chain of NABH-certified hospital facilities. These facilities collectively offer nearly 800 beds and deliver multi-specialty healthcare services to patients from Punjab and neighboring areas such as Himachal Pradesh, Haryana, and Jammu. As per the Hospitals, its network serves more than 300,000 patients annually.