JSA has facilitated the first healthcare investment for the India Resurgence Fund (IndiaRF) in acquiring a majority stake in Ivy Health and Life Sciences for USD60 million (INR5.25 billion).
Piramal Enterprises and Bain Capital Credit are the backers of IndiaRF in the deal.
JSA’s transaction team consisted of lead partner Sidharrth Shankar, partner Prakriti Jaiswal, principal associate Dhruv Malhotra and senior associate Shivek Sharma. The due diligence, real estate, competition law, and banking and finance teams helped with the transaction.
Ivy Health operates nationally certified multi-speciality hospitals across the northwestern state of Punjab. This is IndiaRF’s debut healthcare sector investment and the first of its kind in a regional hospital chain.