HealthQuad, a venture capital fund specializing in healthcare, has successfully exited its investment in the Asian Institute of Nephrology and Urology (AINU), yielding a remarkable fourfold return. This marks the fourth profitable exit from HealthQuad’s inaugural fund, initiated in 2016 with a capital of Rs 75 crore.
The exit unfolded within the context of Asian Healthcare Holdings’ acquisition of AINU for Rs 600 crore last year. Asian Healthcare Holdings, a specialized healthcare platform supported by TPG Growth and GIC, facilitated this acquisition.
AINU’s journey has been characterized by significant expansion, evolving from a solitary establishment in Hyderabad to a network of seven hospitals spanning cities like Chennai, Siliguri, and Visakhapatnam. This expansion not only augmented AINU’s bed capacity by fivefold but also bolstered patient volume by an impressive 200%.
Established in 2013 by Dr. C Mallikarjuna and Dr. P C Reddy, AINU is renowned for its comprehensive clinical services in urology and nephrology, having catered to over 400,000 patients and conducted 50,000 procedures.
With the successful divestment from AINU, HealthQuad continues to actively manage its second fund, valued at $162 million, with approximately 65-70% already deployed across 12 investments.
Looking ahead, HealthQuad is in the process of raising a third fund targeting $300 million, with a focus on various healthcare sectors including cell and gene therapy, vaccines, and medical equipment.
Since its initial investment in 2016, HealthQuad has played a pivotal role in fostering the growth of a pan-India single-specialty hospital chain and facilitating the integration of cutting-edge technologies to enhance access to specialized healthcare in India. Noteworthy achievements include over 1,000 robotic urology surgeries and more than 200,000 dialysis procedures performed under HealthQuad’s support.
