*ASIAN Healthcare Fund* has invested in *Diwan Chand Medical Services Private Limited* for about $20mn which will be completed in tranches over the next couple of years.
The fund also has the option to increase its stake in the company. Transaction Reference: TOI<http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=ETNEW&BaseHref=ETD/2010/03/15&EntityId=Ar00501&GZ=T&AppName=1&ViewMode=HTML&GZ=T> Transaction Note DiwanChand Medical Services Pvt. Ltd is an imaging company promoted by *Ajay Agarwal*. The group operates the* Diwan Chand Satya Pal Aggarwal Imaging Research Centre*- a radiology centre in India. In 2007, US-based *Allied Medical Services* was in talks to acquire the company for about $25-30mn. However, the deal did not materialize. ASIAN Healthcare Fund is backed by the *Burman Family*- promoters of the *Dabur Group*. This is the first investment made by the fund. The fund is floated by former Dabur Pharma CEO *Ajay Kumar Vij.* The fund size is estimated to be around $200mn. Burman Family is not new to the healthcare segment. In 2008, the family sold their healthcare venture *Dabur Pharmaceuticals* to Fresenius Kabi, a wholly-owned subsidiary of German health care group Fresenius SE, for $219 Mn Burman Family also has contract research firm – *Dabur research Foundation*which is headed by Ajay Kumar Vij. The family also holds a 74% stake in their Indian insurance JV with UK based insurance company Aviva. The Indian healthcare industry is estimated to be around $35 bn currently, and expected to double in the next 3-4 years. Other PE funds involved in this segment are Evolvence India Lifesciences Fund, IndiaVenture Advisors by Piramal Group, Spring Healthcare from Sabre Capital, Iven Medicare from ICICI Venture and Milestone Religare -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
