business ๐ฅ KKR bags Medicover India for $1.3B
KKR is acquiring Medicover India, the Indian hospital arm of Sweden's Medicover AB, in a massive $1.3 billion deal. This transaction sees Medicover completely exiting the Indian market, focusing instead on its European operations. As of June this year, the Indian business generated an annual revenue of 220.5 million euros across 24 hospitals. Previously, Medicover had considered an IPO but found the sale to KKR to be the superior strategic move. The deal is anticipated to receive regulatory clearance and close in the fourth quarter of this year. ๐ฅ