The Carlyle Group buys stake in Metropolis Healthcare Limited

Global alternative asset manager, The Carlyle Group has said that an affiliate of Carlyle Asia Partners IV has bought a stake in Metropolis Healthcare Limited, a multinational chain of pathology laboratories. Carlyle is acquiring the stake held by Dr. GSK Velu and his affiliates. Financial details were not disclosed.

Promoted and led by Managing Director and CEO Ameera Shah, Metropolis Healthcare Limited is a chain of pathology laboratories with presence in India, Sri Lanka, United Arab Emirates, South Africa, Kenya, Mauritius and Ghana, and has a network of 130 laboratories with more than 1,000 collection centres in India.

Neeraj Bharadwaj, Managing Director, Carlyle Asia buyout team, said, “With an experienced management team, a wide range of test menu and a focus on superior quality and clinical output, Metropolis has developed a strong brand name and established a broad retail franchise in India. We are delighted to partner with Metropolis and back its promoter as well as its management team, and will leverage our healthcare industry expertise to support the company’s growth plans.”

Sushil Shah, Chairman, Metropolis Healthcare Limited, said, “I have seen Dr. Sushil Shah's Laboratory transform into Metropolis Healthcare, a multinational chain of pathology centers, over the past 15 years and I thank all the investors and partners who have believed in our vision. We have created immense value for the selling shareholder and previous investors and are eager to work with The Carlyle Group to build on this track record of success.”

Commenting on the development, Dr. GSK Velu, the ex-promoter and selling shareholder, said, "It has been a long and fulfilling association with Metropolis. I wish Metropolis all the best in its new growth journey with Carlyle as the new investor.''

Carlyle has extensive experience in the healthcare sector in Asia with investments in Healthscope in Australia, Meinian Onehealth and Concord Medical in China, as well as Global Health in India. Carlyle sees high growth potential in the healthcare sector in Asia as the rising middle class continues to drive demand for better healthcare products and services.