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True North to Acquire 40 Percent Stake in Kerala Institute of Medical Services for US$200m (Asia)

True North, an India-focused private equity firm formerly known as India Value Fund Advisors, has agreed to invest US$200 million for a 40 percent stake in India-based hospital chain Kerala Institute of Medical Services (KIMS). The deal will provide an exit to India-focused private equity firm Ascent Capital and health care-focused investment firm OrbiMed Advisors, which originally invested in the company in 2012. True North, which will invest through India Value Fund V, plans to support KIMS’ expansion of its operations in India and the Middle East.