General Atlantic to acquire majority stake in Ujala Cygnus
Ujala will use the capital to enhance clinical and civil infrastructure throughout its network and fuel care capabilities across key specialties in the markets it operates in.
Healthcare provider Ujala Cygnus has partnered with global growth investor . Under the agreement, General Atlantic will acquire a significant majority stake in the company.
, , and Evolvence Capital, among the company's early investors, have made a full exit.
“Since 2018, Ujala Cygnus has expanded its hospital network from nine to 21 facilities across 17 cities in five states, increasing bed capacity from 1,000 to over 2,500 beds. With a commitment to further extend its impact in underserved markets, Ujala Cygnus aims to pursue both organic and inorganic growth strategies, including collaborations with local hospitals through leasing and revenue-sharing models,” said Probal Ghosal, Chairman and Director at Ujala Cygnus.
Ujala will use the capital to enhance clinical and civil infrastructure throughout its network and fuel care capabilities across key specialties in the markets it operates in.
The company aims to increase access to affordable healthcare by establishing a network of 21 hospitals catering to Tier-II and Tier-III cities in Northern India.
“Ujala Cygnus is committed to improving patient experience and outcomes through a longitudinal care approach that is also cost effective. We look forward to partnering with Ujala Cygnus to extend its reach across Northern India,” said Varun Talukdar, Principal and Head of India Healthcare at General Atlantic.
In addition to the investment, Ujala Cygnus has recently obtained term loan facilities from the Asian Development Bank.
EY India served as the exclusive financial advisor for Ujala Cygnus throughout this transaction.
Edited by Affirunisa Kankudti