IndiaRF Invests Rs525cr In Healthcare Provider Ivy Health


India Resurgence Fund (IndiaRF), an India-focused investment platform, has invested Rs 525 crore in Ivy Health and Life Sciences (Ivy). After the funding, IndiaRF has become the majority shareholder of Ivy.

As part of the transaction, IndiaRF shall acquire Ivy’s NABH-certified facilities in Punjab at Mohali, Amritsar, Khanna, Hoshiarpur, and Nawanshahr. The Fund has also infused sizeable growth capital which will be utilised to further improve the breadth and quality of patient care services offered by Ivy’s existing facilities as well as expand its footprint to other cities in the state and adjoining regions.

The deal marks IndiaRF’s maiden investment in the healthcare sector and the first of its kind in a regional hospital chain in north India. It was founded by Gurtej Singh and Dr Kanwaldeep Kaur in 2008, Ivy has a combined capacity of nearly 800 beds and offers comprehensive multi-speciality care and procedures for patients, not just from Punjab but also from neighbouring areas of Himachal Pradesh, Haryana, and Jammu. The Ivy network claims to treat over 300,000 patients a year.

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