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General Atlantic to facilitate expansion of Ujala Cygnus, with stake buy

Thursday, 04 Apr 2024
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Hospitals Group Ujala Cygnus has entered into a partnership with US-based private equity firm General Atlantic to aid its network expansion. General Atlantic will acquire a majority stake in the company, and along with existing shareholder Amar Ujala, it will help it expand in the northern region.

Ujala Cygnus runs a network of 21 hospitals in northern India in tier-II and tier-III cities. The investment would be used to upgrade clinical and civil infrastructure across the network, and strengthen capabilities across specialities. The healthcare company’s early investors, Eight Roads Ventures, Somerset Indus Capital, and Evolvence Capital, have made a full exit.  

Since 2018, Ujala Cygnus has expanded its hospital network from nine to 21 facilities across 17 cities in five states, increasing bed capacity from 1,000 to over 2,500 beds. The company intends to pursue organic and inorganic growth strategies, including collaborating with local hospitals through leasing and revenue-sharing models. 

The hospital group recently secured term loan facilities from Asian Development Bank (ADB).

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