Shardul Amarchand Mangaldas & Co. Advised Apollo Hospitals Enterprise Ltd. & Apollo Healthco Ltd. On Advent International Investment
Shardul Amarchand Mangaldas & Co. provided Aadvised Apollo Hospitals Enterprise Limited (AHEL) and Apollo Healthco Limited (Apollo 24/7) in a complex transaction comprising multiple phases. This involved Advent International’s investment of INR 2,475 crores into Apollo 24/7, Apollo 24/7’s acquisition of a minority stake in Keimed Private Limited (Keimed) for INR 725 crores, and the subsequent merger of Keimed into Apollo 24/7. The amalgamated entity, valued at an enterprise worth of INR 22,481 crores.
The objective of the transaction is to establish a prominent integrated, omni-channel healthcare ecosystem, characterized by a pioneering business model and nationwide reach across India. This move holds the potential to unleash substantial business synergies within the healthcare sector.
The completion of the transaction is contingent upon fulfilling customary conditions precedent, which include obtaining approval from the Competition Commission of India and the public shareholders of AHEL.
The transaction was spearheaded by Puja Sondhi, Partner, alongside Aayush Kapoor, Partner, Roma Das, Principal Associate, Prerna Saroha, Associate, and Harjas Singh, Associate. Assisting on various ancillary aspects of the transaction were Ashni Roy, Partner, Manita Doshi, Partner, Chintan Aashwini, Senior Associate, Sara Jain, Associate, Chirag Mangal, Associate, Vipra Sankhla, Associate, Pratim Majumder, Associate, and Jayesh Bhavesh Borele, Associate.
The competition aspects of the transaction were supervised by Harman Singh Sandhu, Partner, Rohan Arora, Partner, Apurv Jain, Associate, Arjav Kulshreshtha, Associate, and Aryika Dadhwal, Associate.
Cyril Amarchand Mangaldas & Co. (Mumbai) served as the Legal Advisor to Advent for the transactions, while AZB & Partners (Chennai) provided Legal Advice to AHEL and its Board of Directors.