NewQuest Capital Partners acquires minority stake in Cloudnine hospitals
28 July 2021 | News
Cloudnine will explore strategic opportunities to build capacity particularly in disruptive customer services and medical technologies
Image credit: shutterstock
NewQuest Capital Partners, a leading dedicated secondary private equity platform focused on the Asia-Pacific region, has acquired a minority interest in Kids Clinic India that operates as Cloudnine chain of hospitals across India.
The stake has been acquired through a combination of a primary investment and acquisition of a secondary stake from existing investors and other shareholders.
Cloudnine is India’s premium birthing center for maternal, childcare and fertility care. The Company is headquartered in Bengaluru with 16 facilities spread across in Gurgaon, Noida, Chandigarh, Panchkula, Chennai, Mumbai and Pune.
NewQuest made its investment in Cloudnine from its fourth flagship fund, which closed in late 2019 with $1 billion of commitments. The investment represents NewQuest’s third investment in India in the last six months.
