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India : GLOBAL PE funding gained by Livewell Healthcare.

Livewell Healthcare, a promoter of speciality hospitals, has confirmed plans to establish a 120-bedded facility in Cyberabad, Hyderabad and a bigger hospital in the Republic of Guinea, Africa.

AMV Sai Kumar, Chairman & Chief Executive Officer said that the two projects entail a total investment of Rs. 55 crore. The Hyderabad-based company has obtained private equity funding from Exhilway Global Opportunities Private Equity Fund.

The US-based fund has main focus on India and Africa-based buyout investment opportunities. It will offer Rs. 12 crore of the Rs. 25-crore project in Hyderabad. The promoters, Sai Kumar Adapa and Uday Kumar Rachakonda, will raise the balance.

The speciality hospital located in the heart of the IT hub in Madhapur is likely to be ready in the next couple of months, Sai Kumar stated.

The African hospital is being set up in Conakry, the capital of Guinea, which is in addition the business hub. The port city has seen a quick growth in mining and agricultural industry with companies like BHP billiton, JICO and Alufor Mining, employing over a lakh personnal.

250 beds were offered by the Government of Guinea to the Jean Paul II hospital. Sai Kumar said that the focus of the Rs. 30-crore venture would be to deliver multi-disciplinary tertiary level care of international standards along with high-end diagnostic facilities in all fields.

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Publication:Mena Report
Geographic Code:9INDI
Date:Jul 16, 2014
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