KKR takes 49% stake in Radiant Life Care

Global investment firm KKR has agreed to acquire a 49 per cent stake in hospital management company Radiant Life Care for about $200 million.

Radiant is in the business of developing and redeveloping hospitals to provide high-end quaternary care. Radiant's facilities include BLK Super Speciality Hospital in New Delhi and the Nanavati Super Speciality Hospital in Mumbai, both of which have been rebuilt and re-launched since being acquired by the company.

KKR's investment in Radiant continues the firms' partnership, as KKR has previously extended financing to Radiant to support the company's growth.

KKR is making the investment from its KKR Asian Fund III.

''This is an exciting time for healthcare in India given the growing demand for superior medical treatment. In this industry, scale and operating leverage are increasingly important, and Radiant has a unique opportunity to acquire assets during a time of industry consolidation,'' Sanjay Nayar, Member of KKR and CEO of KKR India, said.

''KKR is focused on providing long-term capital solutions to experienced health care partners like the Radiant team to continue their work to deliver high-quality care and services," he added.

KKR has invested more than $3 billion through its private equity practice in India since 2006. The firm is extensively engaged in the operations and strategies of its portfolio companies to provide resources and advice to accomplish shared goals.

KKR's private equity portfolio in India includes Aricent, Bharti Infratel, Avendus Capital, Cafe Coffee Day, Emerald Media, Magma Fincorp, Max Financial Services and SBI Life. KKR also focuses on credit, capital markets and real estate opportunities in India.