In a bid to repay promoters’ debt and build more hospitals, Apollo Hospitals is all set to garner around Rs 550 crore by inking partnership pact with US-based PE firm Kohlberg Kravis Roberts (KKR). The investment is in the form of a five-year callable security that consolidates existing debt at PCR, the holding company for the Apollo Hospitals Group and initiates a partnership in the healthcare sector across the two firms.
The PE fund will subscribe to the convertible debentures issued by PCR Investments with an option to convert these debentures into equity shares of listed Apollo Hospitals at the end of five years. The promoters also will have the right to buy back these instruments at the end of two years.
Apollo Hospitals, is the leading private sector healthcare provider in Asia and owns and manages a network of speciality hospitals and clinics, a chain of Pharmacy retail outlets across the country, and provides Consultancy Services for commissioning and managing the Speciality Hospitals.
The PE fund will subscribe to the convertible debentures issued by PCR Investments with an option to convert these debentures into equity shares of listed Apollo Hospitals at the end of five years. The promoters also will have the right to buy back these instruments at the end of two years.
Apollo Hospitals, is the leading private sector healthcare provider in Asia and owns and manages a network of speciality hospitals and clinics, a chain of Pharmacy retail outlets across the country, and provides Consultancy Services for commissioning and managing the Speciality Hospitals.
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