HealthQuad exits AINU, sells stake for Rs 600 crore

HealthQuad, a healthcare-focused venture capital fund backed by Quadria Capital, has exited from the Asian Institute of Nephrology and Urology (AINU), India's largest single-specialty hospital network dedicated to urology and nephrology care, said a company statement.

The exit came as part of acquisition of AINU by Asian Healthcare Holdings, a single-specialty healthcare platform, backed by TPG Growth and GIC, for Rs 600 crore last year.

The fund, which invested in 2016, is claimed to have achieved a fourfold return with the exit.

AINU was founded in 2013 by a team of leading urologists and nephrologists, led by Dr C Mallikarjuna and Dr PC Reddy. It currently operates 500 beds through seven hospitals across Hyderabad, Visakhapatnam, Siliguri and Chennai.

It has treated more than 400,000 patients and completed about 50,000 procedures.

On the nephrology side, it has performed more than 200,000 dialyses and 300 kidney transplants.

HealthQuad has raised two funds so far, a $11.6 million (₹75 crore) fund I and $162 million (₹1,215 crore) fund II.

Its major investments include diagnostics platform Redcliffe, mental health startup Wysa, online ambulance aggregator StanPlus, Medikabazaar, clinical data aggregation platform THB and tech-led corporate wellness platform Ekincare.

"HealthQuad is actively pursuing deals across health-tech, biopharma, med-tech and healthcare delivery," said Pinak Shrikhande, managing director, HealthQuad.