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PE firm Actis says sells 82 pct stake in Sterling Hospital to founders
December 11, 2013 / 12:40 PM / 4 years ago

PE firm Actis says sells 82 pct stake in Sterling Hospital to founders

MUMBAI, Dec 11 (Reuters) - Private equity firm Actis said on Wednesday it sold its 82 percent stake in India’s Sterling Hospital to Addlife Investments Private Limited, a company promoted by the hospital’s current chairman, Girish Patel.

Financial details of the transaction were not disclosed.

Patel will remain as the chairman and continue to build the business and grow its operations in Gujarat and beyond, Actis said in a statement.

Actis, which manages $6 billion and invests in emerging markets, invested in the Gujarat-based hospital in 2006.

Sterling runs a chain of seven multi-specialty hospitals in western India. (Reporting by Indulal PM; Editing by Sunil Nair)

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