Faridabad-based super-specialty hospital, Asian Institute of Medical Sciences, has raised an investment of Rs 139 crores ($21m) from UK-based development finance institution CDC Group in a frsh round of funding, as reported by VC Circle and Mint. Existing investor Orbimed which backed the healthcare services provider with a Rs 100 crores investment in January 2014, will continue to hold its stake post the fundraise.

Alpha Partners, which represented Asian Institute of Medical Sciences and its promoters in the 2014 investment, also acted as the legal advisors in the current transaction with a team consisting of partner Akshat Pande, associate partner Kunal Arora and associate Richa Hingle.

A Mumbai-based team of Trilegal assisted the UK government’s development finance institution CDC Group Plc in the transaction and was led by partner Nishant Parikh, counsel Harsh Jain and corporate associate Sibani Saxena.

IndusLaw Bangalore advised existing investor Orbimed and was led by partner Kartik Ganapathy.

Veda Corporate Advisors acted as the financial advisor to Asian Institute of Medical Sciences in the transaction.

Established in 2010 by Padmashri awardee and founder Dr. Narendra Kumar Pandey, Asian Institute of Medical Sciences and currently runs 750 beds across three tertiary care focussed hospitals at Faridabad, Moradabad and Dhanbad, and two secondary care hospitals in Yamuna Vihar and Sambhal. It is also reported that the current investment by the CDC group will help them in their next phase of expansion with plans of adding 1,000 more beds through its existing facilities, with new hospitals being planned across states of Delhi NCR, Haryana, UP, Bihar & Jharkhand.

2018-02-05