TPG Growth, the $7 billion growth investment fund of private equity firm TPG, has put in $33 million (around Rs 220 crore) in Rhea Healthcare Pvt Ltd for a majority stake in the Bengaluru-based company operating the Motherhood chain to provide care for mother and child.
Rhea Healthcare would direct the investment in expanding the Motherhood care centres across India. According to the Motherhood’s website, the maternity chain currently operates in Bengaluru, Chennai, and Hyderabad.
The maternity hospital offers latest technology, including high-end neonatal intensive care units, and the team provides personalized care that includes obstetrics, gynaecology, neonatology, paediatrics, fetal medicine, fertility, and cosmetology.
The network of Motherhood care centres is headed by Dr. Mohammed Rehan Sayeed, who received his training from the United States-based multispecialty academic hospital, Cleveland Clinic, according to theBusiness Standard.
“Motherhood was built to provide specialty care in the mother and child segment, as the current generation of first-time parents are increasingly looking for a safer and more comfortable birthing experience. We look forward to partnering with TPG Growth to expand our footprint across India and enhance the treatment options we offer patients,” Sayeed said.
TPG has invested over $10 billion in healthcare companies around the globe through TPG Growth, Capital, Asia, and Biotech platforms, according to the Hindu Business Line.
“Motherhood is an early entrant in a space that we believe is prime for growth. The company has already built an impactful network and, working together, we can increase the availability of high-quality gynaecological and neonatal care across the country,” BS quoted Vish Narain, a partner at TPG Growth in India, as saying.
“In our work across the healthcare space globally, we’ve identified speciality care networks as an area where there is significant opportunity, especially in emerging markets where patients are just now starting to demand skilled specialists,” Matthew Hobart, a partner at TPG Growth and leads the fund’s healthcare investments, said.
TPG Growth has invested nearly $250 million in the healthcare sector in India and Sri Lanka, according to the Economic Times. It funded Cancer Treatment Services International in India in April this year. It also had led a Rs. 135 crore funding round for New Delhi-based Lenskart Solutions Pvt. Ltd, an online retailer that sells contact lenses, sunglasses and eyeglasses.