PTL Enterprises, a member of Onkar Kanwar-controlled Apollo Tyres group, plans to issue about 15% equity in its subsidiary Artemis Health Sciences to private equity investors. The company is in talks with various PE investors including 3i and CDC to offer the stake.
The investors are evaluating the company’s healthcare business and the deal could be finalised soon. PTL Enterprises is looking to raise close to Rs 70 crore, which values its healthcare business at over Rs 450 crore. Company officials were not available for comment.
Apart from health sciences, PTL Enterprises (formerly Premier Tyres) also has a manufacturing facility of tyres, tubes and pre-cured tread rubber at Kalamassery, Kerala. The facility has been leased to Apollo Tyres for Rs 25 crore while the raw material, excise and other expenses are reimbursed from Apollo Tyres. The lease agreement is valid up to 2014.
Read more in The Economic Times article.
Showing posts with label Apollo Group. Show all posts
Showing posts with label Apollo Group. Show all posts
Wednesday, April 23, 2008
Friday, November 2, 2007
Apollo to offload 15% for $70 mn
Apollo Health Street (AHS), the healthcare business process outsourcing subsidiary of Apollo Group that runs India’s largest hospital chain, plans to raise $70 million from the capital market by offloading 15% of its equity. The Hyderabad-based company has been valued at nearly $470 million. The company will come out with its initial public offer (IPO) in the first quarter of 2008.
AHS is also looking to get outsourcing contracts worth several millions of dollars from private equity player Apax Partners, which runs 45 hospitals in Europe. Apax Partners picked 11% stake in parent company Apollo Hospital Enterprises for $100 million last month.
Read more in The Economic Times article.
Thursday, August 30, 2007
Apollo acquires Zavata
Apollo Health Street, a global healthcare outsourcing arm of the Apollo group, on Thursday announced the acquisition of Atlanta-based BPO and enterprise support solutions company, Zavata Inc, for Rs 697 crore.
"The fourth acquisition for Apollo Health Street and the second in the US provider space, it strengthens AHS's position as a leading provider of outsourcing solutions to the healthcare industry," Apollo Chairman Prathap C Reddy said.
While the Bank of India and Barclays Capital had structured a debt to the tune of Rs.550 crore, the rest would be from internal generation for the acquisition, he said.
It also makes the combined organisation the largest focused healthcare BPO organisation in the country with a significant IT business, he said.The combined oganisation will have more than 100 customers and over 2,500 employees spread across multiple locations in the US and in India.The company was coming up with a back office at Chennai, which would employ 400 persons initially, which would go upto 2,000, he said.
Read more in The DNA Money article.
"The fourth acquisition for Apollo Health Street and the second in the US provider space, it strengthens AHS's position as a leading provider of outsourcing solutions to the healthcare industry," Apollo Chairman Prathap C Reddy said.
While the Bank of India and Barclays Capital had structured a debt to the tune of Rs.550 crore, the rest would be from internal generation for the acquisition, he said.
It also makes the combined organisation the largest focused healthcare BPO organisation in the country with a significant IT business, he said.The combined oganisation will have more than 100 customers and over 2,500 employees spread across multiple locations in the US and in India.The company was coming up with a back office at Chennai, which would employ 400 persons initially, which would go upto 2,000, he said.
Read more in The DNA Money article.
Subscribe to:
Posts (Atom)
