Carlyle Group unit buys stake in India lab operator Metropolis Healthcare

Thursday, 10 September 2015 00:00 - - {{hitsCtrl.values.hits}}

Reuters: A unit of Carlyle Group LP has bought a stake in Metropolis Healthcare Ltd, an India-based global operator of pathology laboratories, for an undisclosed sum, according to a statement from the US private equity firm on Wednesday.

A source familiar with the matter told Reuters that Carlyle’s investment was about $150 million to $200 million. The source did not disclose the size of the stake.

An affiliate of buyout fund Carlyle Asia Partners IV bought the stake in Metropolis from former promoter Dr GSK Velu and his affiliates, according to the statement.

Metropolis runs laboratories in India, Sri Lanka, the United Arab Emirates, and countries in Africa including South Africa and Kenya.

India’s healthcare sector is attracting strong interest from foreign investors.Malaysia’s IHH Healthcare Bhd, the world’s second-biggest healthcare firm by market value, said late last month it would buy a 73.4% stake in India-based Ravindranath GE Medical Associates Ltd. for 819 million ringgit ($189.5 million).