Actis to sell Sterling Hospital

Actis will sell its majority shareholding investment in Sterling Hospital, a healthcare provider in Gujarat. Actis invested in the Indian healthcare chain in 2006.


Actis, the global pan-emerging markets investor, today announces that it will sell its majority shareholding investment in Sterling Hospital, the leading healthcare provider in Gujarat. Actis invested in the Indian healthcare chain in 2006. Its goal was to build a high quality regional business providing sophisticated medical services including oncology, neurosurgery and transplant surgery to patients across Gujarat.

Actis is now selling its 82% shareholding to Addlife Investments Private Limited, a company promoted by Mr Girish Patel, the current Chairman of Sterling. Mr Patel will remain as the Chairman and continue to build the business and growing its operations in Gujarat and beyond.

Over the period of its investment Actis put in place a professional management team, expanded the footprint of the business from a single site to seven sites across the region, and invested significantly in expanding specialist surgery, including liver and bone marrow transplants.

Actis has made three investments in 2013 in the healthcare industry in China and India. An ageing population, changes in lifestyle, increasing income, and better insurance coverage are driving global demand for high quality medical products and services. This latest exit shows the ongoing value in the sector.

Speaking on the news, Actis’s Head of Asia, Mr JM Trivedi, said: “Healthcare is an area of focus for Actis. Sterling epitomises our ability to help build best in class healthcare assets, by bringing in a professional management team and putting in place the appropriate systems and governance”.

Mr Patel said: “Actis has helped Sterling professionalise, accelerate growth and create a pan- Gujarat healthcare platform. I intend to build on this foundation and turn Sterling into a leading healthcare player on a national scale”.

Notes to editors
About Actis
Actis invests exclusively in the emerging markets with a growing portfolio of investments in Asia, Africa and Latin America; it currently has US$6 billion funds under management. Combining the expertise of over 120 investment professionals on the ground in nine countries, Actis identifies investment opportunities in three areas: private equity, energy and real estate. The firm has strong healthcare expertise with investments in pharmaceuticals, private hospitals, medical equipment and research. It operates under the highest standards of ESG in the industry and helped the UN define the code for responsible investing. Actis is proud to actively and positively grow the value of those companies in which it invests and in so doing contribute to broader society.

Other healthcare investments

Leading player in the IVD medical diagnostics space in China
US$70m (Enterprise value: US$127m), August 2013

Sterling Hospitals
Leading multi-speciality private healthcare services provider in Gujarat
Deal size: US$47m, 2006-10, India

Asiri Hospitals
Healthcare service provider in South Asia
Deal Size: US$32m, 2012, South Asia

Paras Pharmaceuticals
leading Indian manufacturer and marketer of healthcare products
Deal size: US$140m, 2006-8, India

Glenmark Pharmaceuticals
Leading global generics player
Deal size: US$11m, 2002-2007, India

Nanjing Microtech
Largest local player in endoscopy consumable sector in China.
Deal size: undisclosed, 2012, China

Anthelio (formerly Conjoin)
Largest independent ITO and KPM service provider in the US mid-sized hospital industry
Deal Size: US$142m, 2010, India

Veeda Clinical Research
Largest India-based CRO
Deal Size: US$16m, 2007, India

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