Spark Capital is pleased to announce the successful fund raise of INR 3,480 Mn by Premium Medical and Healthcare Providers Private Limited (better known as Meitra Hospital) which includes refinance of existing debt & fresh fund raise for future capex and working capital requirements. The debt raise will also provide capital for creation of additional capacity in their existing healthcare facility and conserve the cash generated which will be deployed in operations. The structured deal was consummated with a leading Private Bank enabling better cash efficiencies and improved deal economics.
Spark Capital acted as an exclusive financial advisor to the company for the transaction.
- Structure the transaction to comply with business requirements
- Improve deal economics and
- Maintained tight control on the transaction process ensuring quick closure
With this deal Spark Capital furthers consolidates its position in the healthcare sector having concluded 22 transactions in equity and structured finance space aggregating to ~$600 Million raise thus far.
Mr. K.E. Moidu, Promoter and Director of Meitra Hospital remarked “Spark Capital has clearly understood our requirements and arranged a debt structure which complements our cash flows. They provided objective advice and comprehensive support throughout the process. The debt raise will have a positive effect towards stabilisation of business & creation of additional beds. This capital raise will also allow us focus towards marketing the facility and reach clients in GCC and other parts of the world.
About Meitra:
MEITRA Hospital (Meitra), is a 264-beds multi-speciality tertiary care hospital situated in Kozhikode, Kerala and is the pilot project of Premium Medical and Healthcare Providers Private Ltd. It started its commercial operations from 1st September 2017.The hospital promoted by the KEF Healthcare Services (part of KEF Holding), PK. Ahammed, KE Moidu, KE Shanawaz & Dr. Ali Faizal.
Meitra is India's first healthcare facility which is designed and built completely offsite as pre-fabricated building with high-end engineering services. It is built on global standards and is one of the best healthcare facility in the country from a design and healthcare technology perspective. Further information is available at www.pmhp.in
About Spark Capital:
Spark Capital is among India’s leading investment banks, providing a full suite of services encompassing Investment Banking, Institutional Equities, Wealth Management and Structured Finance & Debt Syndication. Spark’s Investment Banking business has successfully consummated a total transaction value of close to USD 2.2 Bn across 31 transactions in the last 36 months; Spark Capital’s Institutional Equities division covers over 200 stocks under research and enjoys empanelment with over 200 institutional clients across FIIs, DIIs and Family offices. Further information is available at www.sparkcapital.in