Asia Healthcare Holdings (AHH), the healthcare platform of private equity firm TPG that operates Motherhood Hospitals and Nova IVF Fertility clinics in India, has acquired a majority stake in single-specialty hospital network Asian Institute of Nephrology and Urology (AINU). The acquisition marks AHH's expansion into a fourth speciality after oncology, women and children's care, and fertility.
AHH on Wednesday said it will be acquiring the majority stake in AINU for a consideration of 1600 crore ($72.1 million) through a mix of primary and secondary infusion.
Founded in 2013 by urologists C. Mallikarjuna and P.C. Reddy, AINU operates seven hospitals across Hyderabad, Visakhapatnam, Siliguri and Chennai. In 2017, the company raised funding from HealthQuad, a venture capital firm floated by the founders of PE firm Quadria Capital.
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