AZB & Partners has advised KKR on the acquisition of a 100 percent stake in Medicover India (Sahrudaya Health Care Private Limited), a multi-specialty healthcare provider. The transaction values Medicover Hospitals India at approximately €1.2 billion. Cyril Amarchand Mangaldas represented Medicover, the Seller, on the transaction, alongside McDermott Will & Schulte.
The transaction is subject to customary closing conditions and regulatory approvals, and is expected to complete in the fourth quarter of 2026.
The Seller, a holding company of Medicover, held approximately 65% in Sahrudaya Health Care Private Limited (SHCPL), for an equity consideration of approximately EUR 1,200,000,000, subject to adjustments. SHCPL, in turn, has five subsidiaries which together operate 26 hospitals across Telangana, Andhra Pradesh, Karnataka and Maharashtra.
AZB’s deal team comprised senior partner Nandish Vyas, Partner Jeet Chaudhuri, along with senior associates Anish Patel, Tanay Chopra and Shreshth Bhartia, and associates Ria Doshi, Gaurav Jayakumar and Shefali Deshmukh.
The transaction was further supported on: financing aspects by partner Shivanand Nayak; employment law diligence by partner Nishanth Ravindran; IP diligence by partner Nandan Pendsey and counsel Arun Babu; real estate diligence by partners Malini Raju and Ruchit Parikh, and counsel Vidhyadhare S; competition law aspects by partner Bharat Budholia, along with senior associates Vayshnavi Ganesh and Anmol Lilani, and associates Palak Jagetia and Varnika Agarwal; compliance law diligence by partners Prerak Ved and Soumit Nikhra.
CAM’s deal team was led by senior partner Reeba Chacko and partner Kota Chandan, with support from associate Yash Chadha. Partner Lakshmi Prakash advised on the third-party financing repayment structuring and ECB assignment. Partner Bharath Reddy, with support from principal associate Dipti Khatri, advised on the ESOP settlement mechanism. Partner Arpita Sengupta, with support from associate Yash Chadha, advised on the transitional license agreement. Partner Sharada Ramachandra advised on certain corporate matters.
The McDermott team was led by partner Fatema Orjela (Private Equity/M&A) and counsel Zoe Woodhouse (Private Equity/M&A), supported by Medicover’s relationship partner Lisa Goransson (Corporate/M&A), and associates Arjun Sehgal and Raees Khan.
