Temasek among funds eyeing majority stake in India's KIMS hospital chain: Report

Temasek Holdings is among funds seeking to acquire a stake in KIMS, a hospital chain with a presence in India and West Asia.
Temasek Holdings is among funds seeking to acquire a stake in KIMS, a hospital chain with a presence in India and West Asia.PHOTO: ST FILE

SINGAPORE - Temasek is among funds that are seeking to acquire a stake in Kerala Institute of Medical Sciences (Kims), the hospital chain with a presence in India and West Asia, according to a media report.

LiveMint reported on Wednesday (March 2) that Kims has been approached by eight to 10 large funds, including Temasek, that want to acquire a majority stake in it.

Temasek said on Wednesday (March 2) that it declined to comment on "market speculation".

Ascent Capital and OrbiMed Advisors, private equity investors in Kims, will sell their combined 40 per cent stake, while the promoters will dilute an additional 15 to 20 per cent for a deal worth about US$300 million (S$420.8 million), LiveMint reported, quoting unidentified sources.

Baring Private Equity Asia and a Japanese private equity fund are among interested firms, a source told LiveMint.

Kims runs a 125-bed hospital in Cochin and a 450-bed hospital in Thiruvananthapuram, and multi-specialty hospitals in Bahrain, Oman, Dubai, Saudi Arabia and Qatar, LiveMint said.

jkoh@sph.com.sg