Actis Capital in talks to sell stake in Sterling Hospitals: report

Private equity firm Actis Capital is looking to sell its stake in Gujarat-based Sterling Hospitals, the Business Standard today reported citing three independent sources in the know.

The London-based PE firm, which holds an 80-per cent stake in Sterling has roped in JM Financial as the advisor for the deal, the paper said.

Interested buyers could be strategic investors and local hospital chains such as Fortis and Apollo and Singapore-based Parkway Hospitals.

PE players with an interest in healthcare, such as Advent International, Carlyle and Apax Partners, are also likely to be approached.

Gujarat-focussed Sterling Hospitals, which has a bed strength of 1,100 has revenue of Rs250 crore a year and an EBITDA of Rs25-30 crore.

Currently, the group has 6 hospitals spread in Gujarat at Ahmedabad, Baroda, Rajkot Mundra SEZ, Bhavnagar, a greenfield 160-bed capacity in Rajkot, a radiotherapy centre with 110 beds in Ahmedabad as well as a leased 90-bed hospital in Gandhidham.