Investcorp sells stakes in India’s ASG Eye Hospital to General Atlantic & Kedaara Capital

Investcorp sells stakes in India’s ASG Eye Hospital to General Atlantic & Kedaara Capital

Investcorp, a Bahrain-based leading global alternative investment firm, has sold its stake in ASG Eye Hospital, the second largest eye care hospital chain in India, to General Atlantic and Kedaara Capital.

Investcorp invested in ASG in 2017 and has worked closely with its founder and management team to drive significant expansion and revenue acceleration by implementing value enhancement initiatives. During the period, ASG effectively carried out a domestic expansion strategy while Investcorp was an investor in the company, targeting untapped markets in India.

As a result of these initiatives, the number of hospitals operated by ASG in India has increased two-and-a-half fold and revenues have tripled since Investcorp’s investment. Earlier this year, ASG won the bid to acquire Vasan Eye, a large eye care hospital chain in India. This acquisition will expand ASG’s footprint in South India.

Gaurav Sharma

Partner & Head

India Private Equity

Investcorp India “It gives us great pleasure to see that ASG has grown to become one of the most prominent eye care chains in India. Millions of people have had access to quality eye care through ASG over the past two decades. It was a pleasure working with ASG’s founder, Dr. Arun Singhvi, and ASG’s leadership team and we wish them