TPG Growth invests $33 mn in Bengaluru-based Rhea Healthcare
TPG has invested more than $10 billion in healthcare companies around the world
New Delhi: TPG Growth, $7-billion growth equity investment platform of TPG, has invested $33 million (over Rs 220 crore) in Bengaluru-based Rhea Healthcare for a significant majority stake.
TPG India Managing Director and Country Head Puneet Bhatia said: "This latest investment reinforces our sector focus on healthcare in India and globally."
Through TPG's Growth, Capital, Asia and Biotech platforms, the firm has invested more than $10 billion in healthcare companies around the world, he added.
"In our work across the healthcare space globally, we have identified specialty care networks as an area where there is significant opportunity, especially in emerging markets where patients are just now starting to demand skilled specialists," Partner at TPG Growth Matthew Hobart who leads the fund's healthcare investments said.
Rhea Healthcare operates a network of mother and child care centers in India under the 'Motherhood' brand, TPG said in a statement.
"We look forward to partnering TPG Growth to expand our footprint across India and enhance the treatment options we offer patients," Motherhood network leader Mohammed Rehan Sayeed said.
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm.
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