Blackstone Leads Race to Buy KIMS Hospitals, Kerala.

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Blackstone Inc has emerged frontrunner to acquire KIMS Healthcare Management (KHML), Kerala's leading hospital chain. Blackstone will acquire about 55-75% stake in the hospital chain, valued at INR 40,000 million. Blackstone and Manipal Health Enterprises Pvt Ltd. are the two contenders left in the race for KIMS. Initially, Blackstone was aiming to buy 55% stake held by existing investor True North along with 20% stake held by minority shareholders.

The management will remain the same, headed by founder Dr. MI Sahadulla, said sources. Promoter Dr. MI Sahadulla & family holds about 25% stake in KIMS. The deal is likely to be signed by mid-September, said sources. Manipal was keen to acquire up to 90% stake with Sahadulla to remain as a minority shareholder with 10% stake, added sources.

Watch out this Space for more Mergers and Acquistions in Healthcare Sector.