Britain’s CDC Invests $48 Million in Narayana Hrudayalaya
Thursday, January 15, 2015
British government-owned development finance institution CDC has invested $48 million in Bengaluru-based Narayana Hrudayalaya hospital chains for a minority share.
Narayana Hrudayalaya will use funds to expand affordable treatment in Eastern, Central and Western regions of the country.
The affordable chain of multi-speciality hospitals is promoted by noted cardiac surgeon Dr Devi Shetty, who did not specify the quantum of equity that will be pared with the British investor post investment.
Founded in 2000 by Dr Shetty, the hospital has become the third largest hospital chain in the country spanning 17 cities.
Funds from CDC will help build or expand hospitals in cities such as Kolkata, Lucknow, Bhubaneshwar and Bengaluru.
“Our long-term capital and strategic support can help Narayana Health build on the success that it has had in using innovation and its scale to deliver world-class healthcare standards to its lower and middle-income patients.