Spark Capital

Spark Financial Holdings (“Spark Capital”) advises the Founders and Shareholders of Cytecare Hospitals Private Limited (“Cytecare”/ “Company”) on their strategic stake sale and partnership with Morgan Stanley Private Equity (“MSPE”) backed Hyderabad Institute of Oncology Private Limited (“Omega”)

Date: Nov 2025 | Deal Value: Undisclosed

Spark Capital acted as the exclusive financial advisor on the transaction.

Spark Capital is pleased to announce that Cytecare and its shareholders have entered into a strategic transaction with Omega. As part of the transaction, Omega will buy secondary shares from the shareholders and also infuse primary capital into the Company for growth. The financial contours of the transaction remain undisclosed.

Cytecare is a 155-bed, NABH-accredited oncology center, pioneering next-generation immunotherapies such as CAR-T Therapy and NK-Cell Therapy. Cytecare is strategically located on the airport road in Bengaluru's fast-growing northern corridor. The hospital was founded by industry veterans Dr. Ferzaan Engineer, Mr. Suresh Ramu, and Mr. Himanshu Shah, each with over 25 years of experience in the healthcare sector. With this transaction, Spark has successfully closed over 25 transactions in Healthcare and Lifesciences sector, aggregating ~USD 1 Bn, demonstrating its deep domain expertise in the sector.

Dr. Ferzaan Engineer, Co-Founder & Chairman, Cytecare Hospitals remarked, "Oncology care in India is rapidly evolving, and Cytecare has been a pioneer in embracing advanced treatment processes. The transaction with Omega marks a new chapter of growth and excellence for Cytecare. Managing this transaction required navigating several complex negotiations, coordinating cross-functional teams, and addressing financial and statutory requirements under tight deadlines, very ably coordinated by the Spark team. They stayed patient and provided us with high quality advice and hands-on involvement at every stage of the transaction. I look forward to partnering with Spark again on future opportunities."

Mr. Suresh Ramu, Co-Founder & CEO, Cytecare Hospitals remarked, "Cytecare has remained at the forefront of cutting-edge oncology care with industry-leading standards of patient focus and care. It has been greatly satisfying to have Omega as the strategic partner, to drive the next phase of its growth journey, through its greater scale, organizational depth and leveraging clinical and operating synergies. For the entire process, Spark has integrated seamlessly with our teams, reflecting the same commitment and collaboration as our internal members. Their vital support through deal planning, structuring, and closure helped us secure the right long-term strategic partners. We view them as trusted advisors for future transactions."

Mr. Virendra Pandey, Managing Director & Head, Healthcare and Lifesciences, Spark Capital remarked, "We are very pleased to deliver a successful strategic outcome on the deal, which would enable Cytecare achieve greater heights in the Onco care segment. The transaction outcome is a testament to inherent strengths of Cytecare and its solid foundations and impeccable governance. It's been a genuinely satisfying experience with Cytecare, Dr Ferzaan, Suresh Ramu, Himanshu and the team. We sincerely thank them for the opportunity and all the encouragement and wish them all success in their future endeavors. Thanks to team Morgan Stanley led by Prateek Bhurat and team Omega and Dr Vamsy for their vision and all the support and we wish them a great journey together with Cytecare."

Mr. Karthik Krishnan, Executive Director, Spark Capital remarked, "It was a privilege to advise on the strategic sale of Cytecare Hospitals, Bengaluru, to Omega Hospitals. Heartfelt thanks to Dr. Ferzaan Engineer, Dr. Suresh Ramu, Himanshu & team for their unwavering commitment and collaborative spirit that helped fast-track the transaction. Grateful to Dr. Mohana Vamsi for his vision in steering Omega's expansion and to Prateek Bhurat and the Morgan Stanley team for their constructive partnership throughout the process. This transaction marks an important milestone in the consolidation of oncology care in India, reflecting a shared commitment to advancing access and quality in specialized healthcare."