Mumbai | New Delhi: 360 ONE Assis set to back Asian Institute of Medical Sciences (AIMS) founder Narendra Pandey to buy back a 49% stake that private equity investors hold in the Faridabad hospital, people familiar with the matter said.
The asset management firm is expected to lend about ₹600 crore to facilitate the repurchase of shares from British International Investment (BII) and OrbiMed, which hold the stakes in AIMS’ parent entity, Blue Sapphire Healthcare. The deal with 360 ONE is likely to be signed within the next few weeks, the people said.
Pandey, who holds the remaining 51% stake, had also explored funding options with others including KKR, Kotak and Avendus.
The 450-bed hospital is expected to be valued around ₹1,200 crore. Alvarez & Marsal advised Pandey on the fundraising process, the people said.
Pandey was in discussions with multiple credit funds to finance the buyback of the 49% stake held by private equity investors, ET reported in November.
A 360 ONE spokesperson declined to comment, while queries sent to Pandey, BII and OrbiMed remained unanswered at the press time Sunday.
Earlier this month, 360 ONE Asset raised ₹3,500 crore ($400 million) for its latest private credit fund. The firm’s private credit platform currently manages assets worth ₹15,200 crore.
Deal activity in India’s healthcare delivery sector has remained robust, with valuations often reaching 25-30 times the earnings for standalone hospitals and small chains. Against this backdrop, Pandey is keen to consolidate the ownership of AIMS.
BII and OrbiMed had previously explored a sale of their AIMS stakes to other private equity investors. The effort failed to gain traction, reportedly due to high valuation expectations.
The proposed transaction reflects a broader trend of Indian promoters buying back stakes from investors using structured credit solutions-particularly in companies with IPO ambitions.
In recent examples, InMobi founders repurchased a 25-30% stake in the mobile adtech firm from SoftBank for about $250 million. Quick commerce firm Zepto’s founders, Aadit Palicha and Kaivalya Vohra, were in talks with Edelweiss Alternative Asset for a structured debt of around ₹1,500 crore, ET reported last year. Founders of B2B manufacturing startup Zetwerk had also used private credit to boost ownership.
Calendar year 2025 recorded $12.4 billion of transactions (across 166 deals), marking a 35% increase from $9.2 billion in 2024, according to an EY report.
The second half of 2025 saw strong momentum in refinancing, acquisition financing and capital expenditure funding.
