Healthcare-concentrated private equity business Somerset Indus Cash Associates is aiming to exit four far more providers from the initial fund it introduced a lot more than 8 a long time ago.
Somerset associate Ramesh Kannan instructed VCCircle that the agency expects to exit firms, which include Hexagon Nutrition (medical nourishment items firm) and Prognosis Professional medical Systems (professional medical imaging and telehealth merchandise and solutions corporation). The other two are Browndove Health care (health-related products maker) and Ujala Cygnus (medical center chain previously known as Cygnus Hospital). “Hexagon, Prognosis and Browndove are currently attracting strategic desire,” he added.
The non-public equity organization has a record of profitable partial and complete exits. It partly exited Krsnaa Diagnostics via an first public featuring (IPO) previously this thirty day period. In the same way, it partly exited Cygnus Hospitals in January 2020 when Hindi daily Amar Ujala picked up a greater part stake and rebranded the north-centered business to Ujala Cygnus.
Somerset also fully exited Sandor Medicaids in 2016 by using a secondary offer.
Now, the trader is on the verge of closing its next fund that drew trader determination previous yr from the govt-backed National Expenditure and Infrastructure Fund’s fund of funds.
“Currently, we have exceeded the $75 million mark for the fund and we need to get to the $80 million focus on shortly,” Kannan said.
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