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Amarchand, Desai & Diwanji secure $85m Warburg Pincus health care PE investment

Amarchand Mangaldas has acted for private equity fund Warburg Pincus in its investment of Rs 392 crore ($85m) in India's largest diagnostics laboratory chain Metropolis Health Care, which was advised by Desai & Diwanji.

The deal closed on 2 July 2010, with Amarchand advising Warburg Pincus in its entire acquisition of ICICI Ventures India Advantage Fund-I's 2006 stake in Metropolis while primary subscription to equity shares of the company on a preferential allotment basis also formed a part of the deal.

Desai & Diwanji has acted for the promoters of Metropolis Labs.

Amarchand managing partner Cyril Shroff and partner Ravindra Bandhakavi led the Warburg Pincus legal advice.

Metropolis Healthcare is a company engaged in the business of providing pathological laboratories services, hospital laboratories management and clinical trials.

The company plans further growth by acquisition of similar businesses through this fresh round of funding.  

The financial advisors involved were KPMG India and Ernst and Young for Warburg Pincus and 03 Capital for Metrolpolis Healthcare.

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