Asia Healthcare gets additional $150 million funding from GIC

Asia Healthcare Holdings on Wednesday said it has received an additional $150 million funding from Singapore's sovereign wealth fund GIC.

GIC had invested $170 million in Asia Healthcare Holdings (AHH) in February 2022.AHH's platform today includes Motherhood Hospitals, Nova IVF, and Asian Institute of Nephrology & Urology (AINU) hospitals.

"We started AHH as a healthcare delivery platform that would invest, transform and grow single speciality enterprises under one holding company," Vishal Bali, Executive Chairman at AHH, said.

"Over the years, our differentiated investment approach has since delivered strong growth opportunities to bridge the demand-supply gap of healthcare services in India," he added.

GIC Private Equity Chief Investment Officer Choo Yong Cheen said that as a long-term investor, the wealth fund is confident in India's single speciality healthcare sector, which has strong tailwinds for growth driven by increasing per capita income, urbanisation, high awareness of speciality care, and improved supply of high-quality clinics.

AHH's potential to expand into newer sub-segments positions it well for continued success, he added.