The healthcare division of Tata Capital contributes $10 million to Apex Kidney Care

 The healthcare division of Tata Capital contributes $10 million to Apex Kidney Care

Tata Capital Healthcare Fund, the healthcare-focused division of private equity company Tata Capital Ltd., has invested $10 million (about 83.3 crore) in the dialysis service chain Apex Kidney Care as part of its fundraising round. The new funding will be used by the healthcare network centered in Mumbai to expand its dialysis services across the nation.

Notably, this is the second nephrology-related transaction to occur in the last month. Through a combination of main and secondary investments, Asia Healthcare Holdings (AHH) purchased a majority share in the Asian Institute of Nephrology and Urology (AINU) for 600 crore ($72.1 million) in September.

The CEO of Apex Kidney Care, Indranil Roy Choudhury, said, "We will keep working with with clinicians both in preexisting and newer geographies as we begin to ramp up our existing infrastructure."

The main services offered by Apex renal Care are renal care and dialysis, and it also owns a network of such facilities. Currently, 120 Indian cities are home to around 180 of these centers.

Vamesh Chovatia, partner at Tata Capital Healthcare Fund II, stated, "Our goal is to collaborate with Apex Kidney Care and provide nephrology patients with high-quality, reasonably priced services."

A growth-stage private equity fund with a concentration on India's healthcare and life sciences industry is called Tata Capital Healthcare Fund. It has received pledges totaling around $200 million over two funds and is sponsored by Tata Capital Limited, a division of Tata Sons Limited. Its most recent fund exceeded the goal amount, coming in at $955 million ($126 million), when removing the green shoe option.

According to Chovatia of the business, 65% of the corpus has already been distributed to seven firms, including Apex Kidney Care, and the remaining portion will be distributed by the end of June 2024.