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2013-06-11

Punjab-based Ivy Hospitals raise Rs 70 cr from Germany’s DEG PE fund

Europe-based global private equity fund has invested Rs 70 crores in Ivy Hospital. The fund known as DEG is a subsidiary of the second largest European Bank - KFW, which is owned by the Government of Germany. It is the 1st investment by DEG in any healthc

Europe-based global private equity fund has invested Rs 70 crores in Ivy Hospital. The fund known as DEG is a subsidiary of the second largest European Bank - KFW, which is owned by the Government of Germany. It is the 1st investment by DEG in any healthcare company in India, a press release said.

Gurtej Singh, CEO of Ivy Hospitals at a press conference said, “With this investment Ivy will set up more hospitals in North India including Bathinda, Amritsar, Hoshiarpur, Simla, Karnal and embark on a multiphase expansion and will make treatment accessible at local level, though there are three operational hospitals at Mohali, Khanna and Nawanshahr. This is the highest seal of quality certification for hospitals in India and now with DEG investment, Ivy aims to take specialty care to the doorstep of patients by setting up hospitals in Tier 2 and Tier 3 cities of North India.”

The expansion is expected to create new jobs in health care. Ivy is committed to pay back to the society by providing free medical checkup camps, organizing awareness talks at different locations, arranging for free Consultation and medicine distribution camp to create awareness about health and wellness, the release added.

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