Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Anusuya Lahiri

Diagnostic Chain With Indian Presence Looks To Raise Over $300M, In Talks With Walmart, Amazon

  • Metropolis Healthcare Ltd diagnostics chain operating in India and Africa, is looking to raise over $300 million and grab a strategic partner by selling a minority stake, Bloomberg reports.
  • Walmart Inc (NYSE:WMT)-owned retailer Flipkart and healthcare chain Apollo Hospitals Enterprise Ltd were among potential strategic investors of Metropolis Healthcare Ltd.
  • Inc (NASDAQ:AMZN) has held preliminary discussions too. 
  • Agreements are also in place with global funds, including KKR & Co Inc (NYSE:KKR), TPG Inc (NASDAQ:TPG), and Barings BDC, Inc (NYSE: BBDC), while talks are ongoing with Blackstone Inc (NYSE: BX).
  • A deal would likely include a sale of primary shares and secondary shares by existing investors, including the managing director, that could take the deal size over $300 million.
  • Metropolis looks to start 1,800 collection centers in the next three years and boost its home collection service to 200 locations within two years.
  • Amazon and Walmart are ramping up healthcare services to add to their retail offerings in India.
  • Spending on preventive health care such as testing is rising in the country of 1.4 billion people, driven by chronic and lifestyle-related diseases and an aging population.
  • Metropolis, traded in Mumbai with a market value of $1.1 billion, about half what it was at the start of the year.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.