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KKR and Baby Memorial Hospital today said they have signed definitive agreements allowing funds managed by KKR to acquire a controlling stake in the Indian multi-specialty hospital chain.

The funds will help BMH in enhancing the quality and accessibility of its healthcare services in India, by constructing a hospital network through both organic and inorganic growth strategies.

“Our investment in BMH reflects our continued thematic focus on healthcare in India. We are pleased to be strategic partners with Dr K G Alexander and family through this investment, which will aid BMH in expanding its network of hospitals and continuing to invest in medical infrastructure so that its medical services can reach more patients in India,” Akshay Tanna, Partner and Head of India Private Equity, KKR, said.

“We look forward to drawing from KKR’s network and deep healthcare expertise to take BMH to its next phase of growth and deliver greater impact to its communities,” he added.

BMH, founded in 1987 by Dr K G Alexander, is a multi-specialty hospital chain in Kerala, offering comprehensive services across 40 medical and surgical departments including cardiology, oncology, neurology, gastroenterology, pediatric and orthopaedic care.

With a capacity of 1,000 beds in Calicut and Kannur, BMH has invested in quality infrastructure and multiple accreditations across its network.

“KKR’s investment in BMH is a testament to our unwavering commitment to delivering accessible and quality healthcare services for all. We are pleased to be able to tap into global and local experience in the healthcare sector, which will enable us to accelerate our growth and expand our services across India, and importantly continue to deliver excellence to the patients we serve,” Dr. K G Alexander, Founder and Chairman of Baby Memorial Hospital, said.

Established in 2008, KKR is a global investment firm that provides alternative asset management, capital markets, and insurance solutions.

Its Asian Fund IV has invested in pharmaceutical companies in India and the Asia Pacific, including JB, Max Healthcare, Gland Pharma, PHC, Bushu Pharma, and Metro Pacific Hospitals, which are among the leading pharmaceutical companies in the region.