Spark Capital is pleased to announce the successful closure of INR 4,500 Mn investment in Apollo Health and Lifestyle Limited (“AHLL” or the “Company”), through a primary equity capital raise from International Finance Corporation (“IFC”) and IFC’s Asset Management Company (“IFC AMC”, collectively referred to as “Investors”). Spark Capital acted as exclusive financial advisor to the Company for the transaction. With the completion of this transaction, Spark has advised on 19 transactions aggregating ~USD 450 Mn value across various sub-segments of the healthcare space and has reinforced its position as a leader in syndicating equity for mid-market companies in the healthcare space.
About the Transaction:
AHLL is expanding its network of smaller-format healthcare centers, including primary care clinics, diagnostics, short stay surgery centers, maternity centers, dialysis, and dental care. To fund its growth plans, the Company has raised primary equity capital from a marquee global investor. As exclusive financial advisor to the transaction, Spark Capital advised AHLL to embark on a value discovery commensurate to the attractive proposition that each of the formats offered to the shareholders. This first of its kind deal in the Indian healthcare space involved the evolution of a complex structuring framework across multiple legal entities to optimize outcomes for the promoters and the Company.
AHLL is a wholly-owned subsidiary of Apollo Hospitals Enterprise Limited (“AHEL”), engaged in smaller-format healthcare centers, including primary care clinics, diagnostics, short stay surgery centers, maternity centers, dialysis, and dental care. The Company’s business model is an innovative move away from traditional hospital-centric models, and towards a model where appropriate care is accessible at the point of contact. Patients with the specific pathologies relevant to AHLL will be referred from both out-patient clinics and general hospitals. Leveraging the Apollo brand and network will enable a steady patient flow. AHLL is today India’s largest and most premier diversified specialty healthcare company.
About IFC's Asset Management Company:
IFC Asset Management Company (IFC AMC), a wholly-owned subsidiary of IFC, invests third party capital, enabling investors to benefit from IFC’s expertise in achieving strong equity returns, as well as positive development impact in the countries in which it invests. As of October 2016, AMC has raised $9.4 billion of capital across 13 investment funds. For more information, visit www.ifcamc.org.
About International Finance Corporation:
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, IFC uses its six decades of experience to create opportunity where it’s needed most. In FY16, IFC’s long-term investments in developing countries rose to nearly $19 billion, leveraging their capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
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.