KKR buys Medicover India at €1.2-billion valuation

Global investment firm KKR will acquire the India hospital operations of international healthcare and diagnostic services provider Medicover AB at a valuation of EUR 1.2 billion.

In a statement, Medicover said it and the minority shareholders have entered into an agreement to divest 100 per cent of equity in Medicover Hospitals India (MHI) to funds managed by global investment firm KKR.

“The transaction values MHI at EUR 1.2 billion. The transaction will generate gross cash proceeds of EUR 0.74 billion and enable accelerated strategy execution in Poland, Germany and Romania, with a strengthened financial position and flexibility,” it added.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of 2026, the company said.

Commenting on the divestment, Medicover CEO John Stubbington said, “After careful consideration of alternatives for our India business, we have concluded that it is the right time to hand over the ownership to KKR, which has demonstrated expertise in investments in India’s healthcare sector, for the next phase of its journey.”

He further said, “This is a highly value-creating transaction that will enable accelerated delivery on our strategy with focus on Europe. In addition, the Transaction will ensure a stronger financial position with flexibility to capture attractive opportunities in those markets.”.

Established in 2017, Medicover India is a multi-specialty hospital network with 24 hospitals and approximately 4,800 beds across South and West India, KKR said in a statement.

“Through our investment, we look to support Medicover India’s doctors and employees in enhancing the quality of care they deliver, broadening access to advanced healthcare services, and improving patient outcomes for the communities the platform serves across India,” Akshay Tanna, Partner and Head of India Private Equity at KKR said..

Medicover India provides comprehensive care across more than 80 clinical specialties, supported by more than 1,900 doctors and advanced clinical infrastructure and technology, serving millions of patients each year, the investment firm said.

KKR further said its investment in Medicover India reflects its belief in the long-term development of India’s healthcare ecosystem.