Olympus Capital Puts $98.7M into DM Healthcare

Olympus Capital has invested 5 billion rupees (about $98.7 million) for a “significant minority stake” in Indian healthcare firm, DM Healthcare Pvt Ltd., Reuters reported. DM Healthcare operates medical centers, hospitals and pharmacies in the Middle East as well as secondary and tertiary care hospitals in India, Reuters wrote. Veda Corporate Advisors was the advisor to DM Healthcare on the transaction.

(Reuters) – Olympus Capital said on Wednesday it has invested 5 billion rupees (about $98.7 million) for a significant minority stake in Indian healthcare firm, DM Healthcare Pvt Ltd.

The investment in DM Healthcare, which operates a network of medical centers, hospitals and pharmacies in the middle east as well as secondary and tertiary care hospitals in India, will be partly for the healthcare firm’s expansion plans in India, the fund said in a statement.

Olympus, which has invested about $1.5 billion so far across Asia, also bought a portion of shares held by private equity firm, India Value Fund in the company, it said.

Veda Corporate Advisors Pvt. Ltd. was the advisor to DM Healthcare on the transaction.

Private equity funds invested have invested $10.58 billion of capital across 501 deals in 2011, up more than a fifth compared to $8.47 billion across 416 deals in 2010, according to data from industry tracker VCCircle.com. ($1=50.55 rupees) (Reporting by Indulal PM; Editing by Subhadip Sircar)