*Apax Partners* may invest about Rs 200 Cr in *Metropolis Healthcare*. Apax may buyout *ICICI Venture's* 25% stake in Metropolis and will invest further cash in the company.
ICICI had invested $7.8 Mn for a 25% stake in Metropolis in 2006 through its *India Advantage Fund Series I*. TA Associates is also keen in acquiring a stake in Metropolis. Transaction Note Metropolis Healthcare offers a range of services including laboratory medicine, radiology and imaging services, hospital laboratory management and remotepathology testing services. It has 55 flagship labs spread across India, Sri Lanka, UAE, South Africa, Bangladesh and Seychelles. Metropolis intends to use the funds for expansion through the inorganic route. It has been agressively growing through acquisitions for the past five years. It has made 12 acquisitions in five years and had recently acquired Bangalore based RV Diagnostic Laboratory. Apax Partners operates across USA, Europe, Israel and Asia. This would be its second investment in an Indian Company. Earlier in 2007, it had invested $104 Mn in Apollo Hospitals Enterprise. *Indian Diagnostics Market* India's medical diagnostics market, estimated at over Rs 10,000 crore, is expected to see consolidation moves with the corporate chains vying to acquire standalone regional labs. The diagnostics market is projected to grow between 15-20% as the per capita spend on healthcare rises on the back of expanding insurance coverage and better infrastructure. While India spends almost 6% of its GDP on healthcare, the average per capita figures are not as robust as the overall spend. Other players in this business are also looking to raise funds through various routes. Thyrocare is also looking to raise funds through stake sale. -- 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.
