Ankura Hospitals attracts PE interest for its ongoing $100 million round
Ankura Hospitals, which specializes in maternity and paediatric care, is attracting interest from several large private equity funds, including General Atlantic, Goldman Sachs Private Equity and Motilal Oswal Alternates, for its ongoing $100 million fundraise, two people familiar with the matter said.
“The company has roped in Alvarez & Marsal (A&M) as an advisor to help with the process,” one of the people cited above said, adding that the fundraise has garnered significant interest from private equity funds on the back of growing demand for its services.
“The round will be a combination of primary and secondary share sale by existing investors including some angel investors and InvAscent, who may exit in part or full,” a second person said. Both people spoke on the condition of anonymity as the discussions are still confidential.
Goldman Sachs and General Atlantic declined to comment, while Ankura, InvAscent, A&M and Motilal Oswal Alternates did not respond to Mint’s requests for comment.
Fundraise plans
The development comes nearly two years after the Hyderabad-based company raised funds to expand its operations. It also comes amid steadily rising investor interest in the mother-and-child care market, driven by population growth, greater awareness, policy support and increased healthcare spending.
Mint first reported the launch of the fundraise in January. The potential transaction may allow InvAscent to monetize its seven-year-old stake in the company. Ankura last raised ₹165 crore from the Asian Development Bank in March 2025 to strengthen its market presence. At the time, the company outlined plans to establish new facilities in key cities across India.
Ankura Medical & Research Centre Pvt. Ltd, the legal entity that operates the chain, posted consolidated revenue of ₹376 crore in FY24, according to Tracxn data. The company was last valued at ₹877 crore as of last year, according to the data platform.
Founded in 2011 by Krishna Prasad Rao Vunnam, Ankura Hospitals began with the aim of providing childcare and eventually grew into a network specialising in several areas, including paediatrics, neonatology, maternity and gynaecology.
The company has more than 19 centres across five states. It has treated over 1 lakh babies in its neonatal and paediatric intensive care units (NICU and PICU), and has more than 600 doctors and over 1,500 patient beds, according to its official website.
Investor interest
The mother-and-child care segment in India has seen heightened interest from private equity and strategic investors. In January, Novo Holdings bought a 49% stake in Surya Hospitals, while KKR invested in Kerala-based Baby Memorial Hospital in 2024.
In October last year, Kerala-based Sabine Hospital raised $50 million from investors, according to media reports. Earlier this year, Temasek-backed Cloudnine Hospitals acquired Apollo Cradle and Fertility in a deal valued at around ₹1,500 crore. Other investors, including Permira and TPG, have also bought stakes in Cloudnine Hospitals, Mint reported in September, marking one of the largest deals in the segment.
While clear estimates for the mother-and-child care segment were unavailable, various reports pegged India's overall healthcare industry at $98.98 billion in 2023, with its value projected to reach $193.59 billion over the following six years.