ICICI Venture To Establish Healthcare Holding Co

MUMBAI: ICICI Venture is mulling to set up a company that will acquire medium-sized hospitals and pharmacy chains and act as a holding company for the fund''s investments in the booming healthcare sector. India''s largest domestic PE fund has already determined to allocate $250 million to the holding company, which will be set up over the next one month. Temporarily called I-Ven Medicare, the company will be the lead vehicle for all ICICI Venture''s investments, buyouts in the healthcare space.

ICICI Venture is in negotiations with four hospitals in different parts of the country for a complete buyout. The new company''s plan is to take majority stakes in key regional hospitals and thereby become a large healthcare player. The company will concentrate on medium-rung players looking for money to expand.