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FINANCIAL NEWS
Dubai’s Abraaj, CDC jointly invest in India’s Rainbow Hospitals
14 Aug 2013
(MENAFN) Dubai-based private equity firm Abraaj Group, UK’s CDC have jointly invested USD17.5 million in India’s Rainbow Hospitals, Arabian Business reported.
Established in 1999, Rainbow Hospitals is India’s largest specialized paediatric and maternity care company with four maternity, paediatric and neonatal intensive care units, and one outpatient clinic in Hyderabad.
The business has expanded with four centres added in the last six years and intends to develop beyond the state of Andhra Pradesh, with new hospitals planned for cities such as Bangalore, Chennai and Pune, and tier two cities like Vizag and Kurnool.
Balaji Srinivas, managing director at The Abraaj Group, said that there is a growing demand in the Indian healthcare sector for paediatric healthcare infrastructure due to the demographics of the country, which witnesses high fertility, maternal and infant mortality rates.
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