Quadria Capital Led Consortium Acquires Stake In Medica Synergie

Investment to help build Medica into the largest healthcare network in Eastern India


Singapore / New Delhi – 19 December 2013 – Quadria Capital, in partnership with DEG and Swedfund, has acquired a majority stake in Medica Synergie Private Limited (“Medica”), a leading hospital chain in Eastern India. The investment by the consortium will be used to facilitate the growth of Medica’s hospital network to over 1300 beds and provide greater access to high quality medical care in the region.


Medica currently serves the Eastern India region, which has a population base of over 315 million people. The region is endowed with over 40{3163b34706130b4e1cf64e8c1b910e982a843cab25723611cf66e26b48765851} of India’s mineral resources, and increased industrialization has led to improvement in the region’s economic situation as well as a greater requirement for access to high quality medical services.


Medica maintains a network of hospitals across key hubs in East India including Kolkata, Siliguri and Jamshedpur. It owns the NABH/NABL accredited 307 bed super specialty hospital in Kolkata and further operates East India’s largest critical care facility.


The investment has been made by a consortium that includes Singapore based Quadria Capital, one of Asia’s leading healthcare focused private equity funds, DEG, the German development finance institution and a subsidiary of KfW, and Swedfund, a Swedish development finance institution.


Dr. Amit Varma, Managing Partner of Quadria Capital, said:

“Medica represents a great opportunity to work with a strong management team to improve the access to high quality care across a trusted hospital network in East India. The management team and the medical professionals in Medica have done a tremendous job to build a first class platform. We share the same vision and principles as Medica’s promoters and look forward to working closely with the Medica team to leverage each other’s capabilities and deliver excellent outcomes for all stakeholders.”


Dr. Alok Roy, Chairman and Managing Director of Medica, further comments:


“We value the opportunity to partner with a healthcare dedicated fund that has demonstrated its capabilities in building several successful healthcare platforms across Asia. This partnership brings in the right blend of capital and operational expertise to grow this network into one of the leading hospital chains in Asia.”


About Medica Synergie


Medica Synergie is an integrated healthcare delivery company focused on the East India region. Medica is backed by a strong management team with a cumulative experience of planning and managing over 75 hospitals and operates with a best in class clinical team. Medica’s current network includes tertiary care hospital services with state-of-the-art facilities in cardiology, cardiac surgery, neurosurgery, orthopedics and spine, ear-nose-throat, dialysis and urology. Medica is committed to provide the best in healthcare at an affordable cost, in a safe and comfortable care environment in a transparent and ethical manner.


About Quadria Capital


Quadria Capital is an independent private equity group based in Singapore and New Delhi that invests into the high growth healthcare sector of some of the world’s fastest growing economies in Southeast and South Asia.


Quadria Capital seeks to make meaningful, positive impact by increasing access to affordable, high quality healthcare to underserved populations that need it the most. Quadria Capital believes that responsible investment is critical to long term, sustainable value creation in the region, and that its goals of both “doing good” and “doing well” are not just compatible, but in fact mutually reinforcing.


About DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH


DEG, a subsidiary of KfW and one of Europe’s largest development finance institutions, finances investments of private companies in developing and transition countries. DEG has been committed to private-sector investments in India since 1964. Drawing upon its many years of experience in India as well as in other developing countries, it provides valuable assistance to companies in realizing their investment projects. DEG invests in companies across the sectors that contribute to sustainable development of the economy. DEG’s India portfolio currently stands at over EUR 500 million spread across about 50 projects.


About Swedfund


Founded in 1979, Swedfund is a committed, active and long-term investment partner that provides risk capital, expertise and financial support for sustainable, growing and job creating businesses in Africa, Asia and Eastern Europe. Swedfund is a Swedish development finance institution wholly-owned by the Swedish government.


For further information, please contact:

Hareesh Nair

Email: hareesh.nair@quadriacapital.com

Tel: +65 9678 2543