Apollo Hospital Ent.

By Vibhuti Sharma

MUMBAI, June 18 (Reuters) - KKR is in advanced talks to buy a majority stake in the Indian business of Sweden's Medicover MCOVb.ST for at least $1 billion, a source with direct knowledge of the matter said, a deal that would expand its healthcare bet in the world's most populous nation.

Stockholm-listed Medicover issued a press release soon after Reuters sent a request for comment on Wednesday night, saying Medicover Hospitals India is in discussions with KKR KKR.N "regarding a potential sale of its Indian operations."

The company did not provide any details and Reuters is first to report that talks are ongoing for KKR to take a majority stake in the Indian business unit for at least $1 billion.

Medicover, which entered the country in 2016, operates a network of 26 hospitals with around 6,000 beds. In its statement, it said it has also been preparing for an Indian initial public offering.

Sweden's Medicover owns 66.9% of Medicover Hospitals India. KKR is seeking to acquire the Swedish firm's entire stake for at least $1.05 billion and is also in discussions with minority shareholders.

The "discussions are ongoing and a non-binding agreement has been reached," said the person, who declined to be named publicly as the talks are private.

Medicover did not respond to Reuters queries and KKR declined to comment.

INTEREST IN HOSPITALS

In its press release, Medicover said there is no certainty that discussions with KKR will result in any transaction and that the firm is continuing with the IPO process.

KKR has been steadily increasing its healthcare investments in India. In 2024, the buyout firm bought a controlling stake in a hospital chain in the southern state of Kerala and has since backed the hospital group's expansion through acquisitions.

India's hospital sector has attracted strong investor interest as rising incomes, expanding health insurance coverage and growing demand for quality healthcare drive consolidation and capacity expansion across the industry.

Medicover competes with Apollo Hospitals APLH.NS, Aster Hospitals, and Fortis Healthcare FOHE.NS in India.

Rothschild is advising on the sale process, while Kotak is advising KKR, the person added.

Kotak and Rothschild did not respond to Reuters queries.

Medicover's India unit reported annual revenue of $234.6 million in 2025, up nearly 1% from a year earlier. The Indian business accounts for more than half of the group's hospitals globally.

(Reporting by Vibhuti Sharma; Editing by Aditya Kalra and Thomas Derpinghaus)

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June 17 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• INDIA'S ENFORCEMENT DIRECTORATE: RBI ISSUED COMPOUNDING ORDER OF FEMA IN CASE OF APOLLO HOSPITALS ENTERPRISES, FIVE DIRECTORS OR OFFICERS

• INDIA'S ENFORCEMENT DIRECTORATE: RBI'S ORDER RESULTED IN TERMINATION OF ADJUDICATION PROCEEDINGS AGAINST APOLLO HOSPITALS ENTERPRISES

Source text: [ID:]

Further company coverage: APLH.NS

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Corrects to say company reported results on Wednesday, not Monday

BENGALURU/HYDERABAD, May 20 (Reuters) - India's Apollo Hospitals Enterprise APLH.NS reported a higher fourth-quarter profit on Wednesday, as strong demand for complex procedures and growth across its pharmacy and digital health businesses boosted earnings.

The Chennai-based hospital operator reported consolidated net profit of 5.29 billion rupees ($54.64 million) for the quarter ended March 31, compared with 3.90 billion rupees a year earlier.

($1 = 96.8200 Indian rupees)

(Reporting by Pranav Kashyap in Bengaluru; Editing by Ronojoy Mazumdar)

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-- Source link: https://tinyurl.com/tkxycp3a

-- Note: Reuters has not verified this story and does not vouch for its accuracy

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Ujjaini Dutta

BENGALURU, April 13 (Reuters Breakingviews) - Feverish demand for private medical care in India will aid Temasek as it lines up a $1.2 billion initial public offering of Manipal Hospitals, the country's largest chain with 12,000 beds. Yet at a mooted $13 billion valuation, the Singapore sovereign investor may be stretching too far to crystallise a strong exit on one of its rare controlling stakes.

Its 51% holding in Manipal is part of Temasek’s S$434 billion ($324 billion) global portfolio which boasts a growing footprint in India. The South Asian country accounts for about 8% of underlying assets, up from 5% a decade ago. Its exposure could rise higher in the coming years under Piyush Gupta; in November, Temasek appointed the former DBS Group DBSM.SI chief executive as its India chair. Manipal’s listing hands the bank its first IPO mandate in India.

The Singaporean investment firm valued the company at just under $5 billion in 2023 when it picked up a 41% stake for $2 billion. At the time, Manipal founder and Chair Ranjan Pai said the business needed "long-term patient capital". It has acquired five hospital brands since Temasek first invested in it in 2017. Meanwhile, revenue is set to grow 27% in the financial year to the end of March 2026, based on annualising results in the six months to the end of September in its IPO prospectus, with a 6% net profit margin.

At a time when global investors are cooling on Indian equities, it helps that Manipal's footprint is concentrated in the southern states where incomes are higher and patients older. Even so, the targeted headline valuation for the hospital chain would value it at 107 times its annualised first-half earnings, Breakingviews calculates, nearly double the multiple of its top three rivals Apollo Hospitals APLH.NS, Fortis Healthcare FOHE.NS and Max Healthcare MAXE.NS. Manipal is more efficient than its rivals yet its average revenue per bed is only about 5% higher than Apollo Hospitals' and 4% higher than Fortis Healthcare.

True, hospital valuations have swung wildly in India, with Apollo's nearly halving from two years ago but Temasek doesn't need such a grand debut for its bet on Manipal to stack up, and forcing one could cast a shadow over its ambitions to increase its exposure to the country.

Follow Ujjaini Dutta on LinkedIn and X

CONTEXT NEWS

India's Manipal Health ‌Enterprises filed for an up to $1.17 billion initial public offering on March 23. The initial public offering comprises a fresh issue to raise $852.2 million and an offer for sale by existing investors including Singapore's Temasek, U.S. investment firm TPG, Manipal Education and Novo Holdings, according ⁠to its draft prospectus.

The company is targeting a valuation of up to $13 billion, Bloomberg reported on March 24, citing people familiar with the matter.

(Editing by Una Galani; Production by Aditya Srivastav)

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April 10 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• APOLLO HOSPITALS - FURTHER BOUGHT SHARES IN APOLLO HEALTH AND LIFESTYLE FOR 186.9 MILLION RUPEES

• APOLLO HOSPITALS - SHAREHOLDING IN AHLL HAS NOW INCREASED TO 100%

Further company coverage: APLH.NS

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March 31 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• APOLLO HOSPITALS -APOLLO HEALTHCO BUYS 100% OF APOLLO CONSUMER PRODUCTS FOR 900,000 RUPEES

Source text: ID:nBSE4D8ydp

Further company coverage: APLH.NS

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Corrects paragraph 4 in March 24 story to say Novo Holdings, not Novo Nordisk

By Vibhuti Sharma and Rishika Sadam

BENGALURU, March 24 (Reuters) - India's Manipal Health Enterprises filed for an up to $1.17 billion initial public offering on Tuesday, betting on rising demand for speciality care even as the domestic equities market faces volatility amid fragile global sentiment.

The initial public offering comprises a fresh issue to raise $852.2 million and an offer for sale of about 43.2 million shares by existing investors such as Singapore's Temasek, U.S. investment firm TPG TPG.O, Manipal Education and Novo Holdings, according to its draft prospectus.

Existing investors plan to sell up to 30 billion rupees ($319.58 million) worth of shares, according to two sources familiar with the matter. They did not want to be named because they were not authorised to speak to the media.

Demand for specialised healthcare has surged in the world's most populous country and is a key driver of growth, analysts say, a trend that is increasingly attracting private and foreign investment from firms such as Blackstone BX.N, Novo Holdings and KKR KKR.N.

India remains an undersupplied healthcare market, with strong tailwinds from rising insurance penetration, industry consolidation favouring larger players and higher per capita incomes driving demand for quality care, said Sanjay Singh, head of investment banking at InCred Capital, adding the IPO is likely to see strong interest from both institutional and retail investors.

Manipal's listed rival, Apollo Hospitals APLH.NS said revenue from complex care such as cardiology, oncology, and neurology rose 22.6% in the December 2025 quarter, highlighting growing demand for advanced medical care.

Manipal's IPO plans come amid a sharp slump in India's equities market, with global risk-off sentiment, tightening liquidity and sustained foreign outflows weighing.

Foreign investors have withdrawn more than $11.65 billion from Indian stocks so far in 2026, including more than $10.17 billion in March alone, according to depository data.

MANIPAL'S LAY OF THE LAND

As of September 30, Manipal had about 12,367 operational beds, while Apollo, valued at roughly $10.88 billion, has nearly 10,000 and targets 13,000 beds by fiscal 2030.

For the six months to September 2025, Manipal Health posted a consolidated net profit of 5.61 billion rupees and revenue of 47.13 billion rupees.

The company plans to use IPO proceeds to repay debt and to fund its acquisition of Sahyadri Hospitals, which it bought for $700 million.

($1 = 93.8725 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru, writing by Chandini Monnappa; Editing by Janane Venkatraman and Thomas Derpinghaus)

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March 23 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• APOLLO HOSPITALS - SHAREHOLDING IN AHLL INCREASES TO 99.42%

Source text: ID:nNSE1Txnds

Further company coverage: APLH.NS

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Feb 10 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• APOLLO HOSPITALS Q3 CONSOL NET PROFIT 5.02 BILLION RUPEES; IBES EST. 4.82 BILLION RUPEES

• APOLLO HOSPITALS Q3 CONSOL REVENUE FROM OPERATIONS 64.77 BILLION RUPEES; IBES EST. 63.29 BILLION RUPEES

Further company coverage: APLH.NS

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Jan 20 (Reuters) -

• INDIA COMPETITION COMMISSION: APPROVES ACQUISITION OF ADDITIONAL 30.58% STAKE IN APOLLO HEALTH AND LIFESTYLE BY APOLLO HOSPITALS ENTERPRISE

Further company coverage: APLH.NS

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Nov 24 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• APOLLO HOSPITALS - OPENS 400-BED FACILITY IN PUNE

Source text: ID:nPre7SYCra

Further company coverage: APLH.NS

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Sept 12 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• APOLLO HOSPITALS - TO SET UP COMPREHENSIVE ONCOLOGY FACILITY AT GURUGRAM AT AN INVESTMENT OF 5730 MILLION RUPEES

• APOLLO HOSPITALS - TO ACQUIRE 31% STAKE HELD BY INTERNATIONAL FINANCE CORPORATION IN APOLLO HEALTH & LIFESTYLE

Source text: [ID:]

Further company coverage: APLH.NS

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Aug 22 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• PROMOTER GROUP, REPRESENTED BY SUNEETA REDDY, SOLD 1.3% STAKE VIA BLOCK DEAL

• SALE PROCEEDS TO BE USED TO REDUCE PROMOTER GROUP DEBT

• PROMOTER GROUP'S SHAREHOLDING REDUCED TO 28% FROM 29.3%

• PROMOTER GROUP HAS NO PLANS FOR FURTHER STAKE REDUCTION

Source text: ID:nnAZN4EHRSU

Further company coverage: APLH.NS

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June 30 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• ANNOUNCES RE-ORGANISATION, ENABLING DIRECT LISTING OF ITS OMNI CHANNEL PHARMACY AND DIGITAL HEALTH BUSINESS

• AHEL SHAREHOLDERS TO HAVE DIRECT SHAREHOLDING IN A COMBINED ENTITY

• FOR EVERY 100 SHARES OF AHEL,AHEL SHAREHOLDERS WILL RECEIVE 195.2 SHARES OF NEW ENTITY

• LISTING OF ENTITY EXPECTED IN 18-21 MONTHS

• OMNI CHANNEL PHARMACY AND DIGITAL HEALTH BUSINESS PLANS TO ACHIEVE 250 BILLION RUPEES REVENUE BY FY27, 7% EBITDA MARGIN

• AHEL WILL RETAIN 15% STAKE IN NEWCO

Source text: ID:nBSE20sh82

Further company coverage: APLH.NS

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June 23 (Reuters) - Mumbai International Airport Ltd, a subsidiary of Adani Airport Holdings, has secured a $750 million investment from a group led by affiliates of Apollo-managed funds APO.N and other long-term backers, the U.S. private capital group said on Monday.

The four-year unsecured notes will be used to refinance existing debt, with an option to raise an additional $250 million, Apollo said in a statement.

Adani Airports Holdings, the airport division of Adani Enterprises ADEL.NS, secured a $750 million investment earlier this month from a consortium of international banks.

The unit is expected to be spun off and listed by March 2027, according to a Bloomberg report from June.

Adani Airport Holdings currently operates eight airports across India and also oversees the Navi Mumbai International Airport, a strategically located project on the outskirts of Mumbai set become operational soon.

Adani Airport Holdings and Adani Enterprises did not immediately respond to requests for comment outside of business hours.

(Reporting by Chandni Shah in Bengaluru; Editing by Sherry Jacob-Phillips)

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March 4 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• PLANS TO COMMISSION COMPREHENSIVE ONCOLOGY CENTRE AT COST OF 2.5 BILLION RUPEES

Source text: ID:nNSE5W2Sw6

Further company coverage: APLH.NS

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By Bhanvi Satija, Kashish Tandon and Rishika Sadam

HYDERABAD Feb 27 (Reuters) - India should take a page from the playbook of countries such as China and Australia if it wants a larger share of the global clinical trials market, healthcare experts said at an industry conference.

As of 2022, India held an 8% share in global clinical trials - which evaluate the safety and effectiveness of new treatments - compared to China's 29%, the U.S.'s 25%, and 38% for the rest of the world, data from consultancy PwC showed.

"There's a lot to learn from what other countries have done to make them clinical trial destinations," BCG India partner Smruthi Suryaprakash said, pointing out that China saw an increase in innovation after easing regulations, while Australia has benefited from offering significant tax incentives.

India's clinical trials research market is rapidly expanding, supported by a diverse patient base, cost-effective solutions, and a growing hospital network, according to U.S.-based GrandView Research, which forecasts revenues exceeding $2 billion by 2030.

"India will be able to capture the clinical trial (market) if we can really work on the speed. I think speed is what is really important to sponsors, either with regulator or being able to recruit patients faster," Suryaprakash added.

Suryaprakash, along with other experts, was speaking as part of a panel at the BioAsia conference in the southern Indian state of Telangana.

Rajeev Raghuvanshi, who heads India's drug regulator, said it was working to make the regulatory process more streamlined for global trials in India, based on feedback from stakeholders.

"We have aligned things every year on average for the last three years," the drugs controller general of India said.

The agency which revamped its trial rules in 2019, had approved about 160 trials in the last three years, he added.

RECRUITING THE RIGHT PATIENTS

Allowing sponsors to raise awareness among patients, such as through advertisements of ongoing studies, would also help India advance as a recruitment site, the experts said.

Advertising studies for experimental treatments could be helpful, especially for patients with rare diseases without many treatment options. It is a common practice in countries such as the U.S. and the U.K.

"You're not able to recruit into the trial because they (patients) do not know that it exists," said Padmaja Lokireddy, an oncologist at Apollo Hospitals APLH.NS.

That needs to change, experts said.

Some other experts highlighted challenges related to preparing a clinical trial site, ensuring it meets global safety standards and recruiting the right patients.

(Reporting by Bhanvi Satija, Kashish Tandon and Rishika Sadam in Hyderabad; Editing by Manas Mishra, Dhanya Skariachan and Tasim Zahid)

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Feb 10 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• Q3 CONSOL NET PROFIT 3.72 BILLION RUPEES; IBES EST. 3.51 BILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 55.27 BILLION RUPEES; IBES EST. 55.23 BILLION RUPEES

• DIVIDEND 9 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: APLH.NS

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Dec 24 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• APOLLO HOSPITALS ENTERPRISE - HEALTHCO TO ACQUIRE SOFTWARE BUSINESS FROM SEARCHLIGHT HEALTH

• APOLLO HOSPITALS ENTERPRISE - DEAL VALUED AT 675 MILLION RUPEES

Source text: ID:nNSE4g7SLs

Further company coverage: APLH.NS

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Nov 29 (Reuters) - India's Aster DM Healthcare ATRD.NS will merge with Blackstone-backed hospitals operator Quality Care India, the companies said on Friday, bringing Aster closer to its larger rivals Apollo Hospitals and Manipal Hospitals.

This is Aster's first major deal since selling its Gulf business. The company will get access to Quality's 5,500 beds, taking the merged entity's total bed count to more than 10,000.

The acquisition will bring Aster's domestic capacity close to that of market leader Apollo Hospitals APLH.NS and the privately-held Manipal Hospitals, making it one of the top three hospital chains in the country.

The merged entity, which will be called Aster DM Quality Care, plans to add another 3,500 beds by fiscal year 2027, funded through internal accruals. Earlier this year, Aster laid out plans to spend up to $108 million to boost its domestic capacity across the 19 hospitals it runs in India.

The combined entity will be jointly controlled by Aster's top shareholders and Blackstone, with respective holdings of 24% and 30.7%. The company did not specify the size of the deal.

Post the merger, Aster's shareholders will hold a 57.3% stake in the combined firm, with Quality Care - which operates CARE Hospitals, KIMS Health and Evercare hospital chains in India - owning the rest.

Azad Moopen, Aster's founder and managing director, will continue in his role and oversee the merged entity, while Varun Khanna, MD of Quality Care, will helm the merged entity as the CEO, the two companies said.

(Reporting by Kashish Tandon in Bengaluru; Editing by Janane Venkatraman)

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-- Source link: https://tinyurl.com/253e3z8p

-- Note: Reuters has not verified this story and does not vouch for its accuracy

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Nov 6 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• Q2 CONSOL NET PROFIT 3.79 BILLION RUPEES; IBES EST. 3.64 BILLION RUPEES

• Q2 CONSOL REV FROM OPS 55.89 BLN RUPEES; IBES EST. 55.13 BLN RUPEES

Source text: [ID:]

Further company coverage: APLH.NS

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Nov 1 (Reuters) - Apollo Hospitals Enterprise Ltd APLH.NS:

• UNIT PROPOSES TO ESTABLISH A 500 BED HOSPITAL IN WORLI MUMBAI

• APOLLO MEDICS PROPOSES TO EXPAND HOSPITAL IN LUCKNOW TO 500 BEDS FROM 300 BEDS

Source text: ID:nNSE5sgHyv

Further company coverage: APLH.NS

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