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December 23, 2012

Deal Alert: Glocal Healthcare scouting for equity funding

Business Line

Kolkata-headquartered and private equity-backed rural hospital company Glocal Healthcare Pvt Ltd, is planning to raise equity for its Rs 400-crore project for 50 new units across six States.

The project would be funded by both debt (65%) and equity (35%). The equity will be raised from a mix of investors including PE funds Sequoia and Elevar, who are current investors. The remaining Rs 280 crore will be debt. SIDBI has already committed funds. 

Glocal, which currently runs five affordable rural hospitals in West Bengal, would locate the new units in West Bengal, Uttar Pradesh, Bihar, Chhattisgarh, Jharkhand and Odisha. Each hospital will have 100 beds built on 15,000 sq.ft.

From the Venture Intelligence PE Deal database: In January 2011, Sequoia Capital India and Elevar Equity had invested $1.33 M in Glocal Healthcare Systems.

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