KKR Eyes $1 Bn Bet on Medicover Hospitals India in Major Healthcare Investment Push

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The proposed transaction would see KKR acquire Medicover's entire 66.9% holding in the Indian hospital business for at least $1.05 Bn.

Global investment firm KKR is in advanced negotiations to acquire a majority stake in Medicover Hospitals India for more than $1 billion, marking another significant investment in India's expanding healthcare sector.

Swedish healthcare provider Medicover has acknowledged the ongoing discussions while stating that its plans for an Indian public listing remain active, as reported by Reuters.

Medicover entered the Indian market in 2016 and has since built a network of 26 hospitals with nearly 6,000 beds across multiple states.

The Indian business has become a key contributor to the Swedish healthcare group's global operations, accounting for more than half of its hospital portfolio.

The proposed transaction would see KKR acquire Medicover's entire 66.9% holding in the Indian hospital business for at least $1.05 Bn. The investment firm is also in discussions with minority shareholders as part of the proposed acquisition.

However, Medicover emphasized that there is no assurance that the negotiations will result in a completed transaction. KKR declined to comment on the matter.

KKR has steadily expanded its healthcare portfolio in India over the past few years. In 2024, the global investment firm acquired a controlling stake in Kerala-based Baby Memorial Hospital and has since supported its growth through strategic acquisitions, reinforcing its long-term interest in the country's hospital ecosystem.

Rothschild advises on the transaction on behalf of Medicover, while Kotak is acting as financial adviser to KKR.

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