4 hours Ago
Asia Healthcare Holdings (AHH) is planning to make its IPO debut within the next two to three years. This comes after the company secured $150 million in funding from Singapore’s sovereign wealth fund, GIC, in December 2024. Elaborating on the IPO plans, Vishal Bali, Executive Chairman, AHH, told businessline, “We have a clear path to an IPO, expected in two to three years.
Both our investors believe the platform is large enough, achieving the scale, and profitability across all its companies for a potential listing.” Bali added, “We have not finalised the timing yet. At a combined level, our margins are growing over 40 per cent year-on-year (YoY), and this will continue to expand with the growing vintage of our chains.
” AHH, which owns and operates three single-specialty hospitals, is also exploring expansion into gastroenterology and pathology. However, Bali highlighted the challenges, in scaling GI services, noting, “There are currently no established enterprises in this country that have successfully scaled GI services, whether in a single centre or across multiple locations. We are assessing whether to build something from the ground up or partner with existing GI surgeons and medical gastroenterologists.
” Founded in 2016, AHH is a single-specialty investing and operating healthcare platform funded by TPG Growth and GIC. AHH owns and operates Motherhood Hospitals, a comprehensive network of 21 women and children’s hospitals across 11 cities in India, and Nova IVF Fertility, a chain of 97 centers across 56 cities in India and South Asia. In 2023, AHH took over the Asia Institute of Nephrology & Urology (AINU), which operates across seven hospitals in five cities.
AHH previously built CTSI, India’s second-largest chain of oncology hospitals, and exited the company in 2019. Recently, with the fresh investment, GIC has become a major stakeholder in the healthcare platform. GIC had earlier made its initial investment of $170 million in AHH in February 2022.
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