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Deal Alert: Glocal Healthcare scouting for equity funding

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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.

Venture Intelligence is the leading provider of data and analysis on private equity, venture capital and M&A transactions in India as well as Financials & Valuations of Private Companies in the country. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

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