CARE

India Health

Headquartered in Hyderabad, the CARE Hospitals Group is a specialist healthcare provider. The group has facilities across nine cities operating 2,345 beds throughout central, western and south-eastern India, making it India’s fifth largest healthcare provider by number of beds.

  • Active
  • Exited

Intermediated investment

We are invested in CARE through Abraaj Growth Markets Health Fund, which is managed by Abraaj Capital. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Health
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Abraaj Growth Markets Health Fund
Fund Manager:
Abraaj Capital
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
February 2016
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

Direct Equity

Our investment

In 2016, a consortium of investors, including the Abraaj Group, CDC, and medical equipment supplier Medtronic, acquired CARE Hospitals Group. Our commitment was $30 million.

Expected impact

Our investment supports CARE’s aim to provide high-quality and accessible healthcare services to over 95,000 inpatients in India each year. The company has shown strong success in its home market of Southern India and is also making good progress in the less well-served markets of Eastern and Central India.

The company has been a leading advocate of low-cost healthcare and aims to target India’s emerging middle-class with affordable tertiary services.

CARE acts as a centre and model for training medical talent and ensures the deployment of managerial best practices. In 2017, the group trained over 6,500 medical workers.

Environmental and social aspects

We are working with the company to further develop their environmental and social management system. We are also supporting the company to track and audit water, waste and energy use.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Health
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
February 2016
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$30m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius