Hongkong-based private equity firm Olympus Capital Asia Investments has invested over Rs. 500 crore ($100 million) for a minority stake in India Value Fund-backed DM Healthcare.

Desai & Diwanji advised Olympus with a team led by Partner Apurva Diwanji along with Associate Partner Siddharth Mody and Associate Ayesha Rai.

DSK Legal advised India Value Fund with a team led by Partner Narendra Dingankar.

Chennai-based law firm Universal Legal advised DM Healthcare with a team led by Partner Kavita Vijay.

With this investment, Olympus Capital will become the DM Healthcare’s biggest external investor even as the existing promoters will continue to be the largest shareholders in the company and this will be the single largest private equity deal in healthcare sector in India till date, reports VC Circle. 

The transaction is a combination of Olympus Capital’s primary investment into DM Healthcare for the growth and expansion of the company in India and secondary purchase of a portion of India Value Fund’s shareholding in the company.

India Value Fund had originally invested around $50 million in DM Healthcare four years ago and held around 22 per cent stake in the company.

Established in 1987, DM Healthcare is one of the leading healthcare service providers in the GCC countries, with revenues of over Rs. 1,200 crore, owns and operates the largest network of hospitals, clinics and pharmacies in the UAE under Aster and Medcare brands.

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