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Khaitan, Wadia, Weils bring hospital under Advent PE care for $105m

Khaitan & Co and Weil Gotshal & Manges advised UK-based Private Equity (PE) fund Advent International Corporation in its Rs 552 crore ($105m) purchase of equity in Hyderabad-based hospital Quality Care India which was advised by Wadia Ghandy.

Khaitan & Co corporate partners Haigreve Khaitan and Bhavik Narsana with dispute resolution partner Chakrapani Misra, direct tax partner Sanjay Sanghvi, and real estate associate partner Abhishek Sharma, and Weil Gotshal & Manges senior associate Simon Lyell acted for the $26bn Europe, Americas and Asia focused PE fund in its third Indian investment.

Wadia Ghandy partners Ashish Ahuja and Farnawaz Mistry advised Quality Care India which is one of the twelve hospitals that are part of the CARE hospital chain. CARE is the fifth largest hospital chain in India, and the largest in South-India, with a significant domestic market share in Andhra Pradesh.

Advent acquired a significant stake in Quality Care India, but management and control remained with the hospital.

The deal is the second largest investment by a PE firm in the Indian healthcare services sector, according to VC Circle.

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