New Delhi, Apr 15 (PTI) The Competition Commission of India (CCI) on Tuesday approved a multi-layered deal, involving global investment firm TPG’s growth funds, South India-based healthcare services provider AINU and other entities.
In a release, the regulator said it has cleared the combination involving Waverly Pte Ltd, TPG Growth V SF Markets Pte Ltd, TPG Growth III SF Pte Ltd, Asia Healthcare Holdings Pte Ltd, Rhea Healthcare Pvt Ltd, Asia Healthcare Advisory Holdings LLP and Asian Institute of Nephrology and Urology Pvt Ltd (AINU).
Based in Singapore, Waverly is a wholly-owned subsidiary of Lathe Investment Pte Ltd, which is wholly owned by GIC (Ventures) Pte Ltd. Waverly is part of a group of investment holding companies managed by GIC Special Investments Pvt Ltd.
AHH is a Singapore-incorporated company, primarily engaged in long-term investment holding activities. Also, through its direct/ indirect subsidiaries, the entity provides healthcare services in the areas of maternal, child, urology, nephrology and other related healthcare services in India. AHH Singapore is jointly owned and controlled by the TPG Group and GIC Group.
According to the release, Rhea is a speciality hospital chain, which provides comprehensive women and childcare and in vitro fertilisation that operates in various parts of India.
AINU is focused on providing healthcare services through hospitals, specialising in urology care, nephrology care, and dialysis and kidney transplants. They also provide radiology and pathology services to their patients. It has seven hospitals located across Hyderabad, Vishakhapatnam, Siliguri, Chennai and Secunderabad.