LGT Lightstone pumps Rs 140 crore into Kauvery Hospital

CHENNAI: Chennai-based Sri Kauvery Medical Care, which runs the Kauvery Hospital chain healthcare centres in Tamil Nadu, has raised Rs 140 crore equity capital from India-focused impact investment platform LGT Lightstone Aspada, said a release.

Mid-market investment advisory Veda Corporate Advisors, which had helped seal many healthcare deals before, had assisted Kauvery Hospital in the transaction.

The proceeds from this round will be used to deepen Kauvery’s presence in Tamil Nadu and expand its footprint across South India.

“We are looking at adding 12-15 hospitals with an aggregate capacity of 3,000+ beds to our network over the next 3-5 years with a major focus on South India. The expected funds to be deployed for this proposed expansion will be around Rs 7,00 crore. This expansion will be done through a mix of strategic partnerships, acquisitions and brownfield hospitals.” said S Chandrakumar, Founder, Executive Chairman, Kauvery Hospitals.

“Our investment in Kauvery is an important milestone in our effort to contribute towards building an interconnected healthcare system in India that improves overall health outcomes and affordability. We are excited to partner with the team at Kauvery in their goal of setting the benchmark for care-standards and affordability at scale in the Indian hospital segment” said Kartik Srivatsa, Managing Partner LGT Lightstone Aspada.

An over two-decade-old hospital brand, Kauvery Hospital has presence in 5 cities in Tamil Nadu spanning Tier-I and Tier-II markets in Trichy, Chennai, Salem, Hosur and Kariakudi.

It offers services primarily in the areas of cardiology, gastroenterology, nephrology, neurosciences, trauma, critical care and oncology. The hospital has recently set up comprehensive and advanced neuro and spine treatment for complex spine deformity correction surgeries.