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Global investment firm KKR has agreed to acquire the India hospital business of Sweden-based healthcare company Medicover AB for an enterprise value of Eur 1.2 billion (around INR 13,188 crore). The transaction will give KKR control of Medicover’s hospital operations in India.
Medicover Hospitals operates across Telangana, Andhra Pradesh, Karnataka and Maharashtra. The business has around 4,700-4,800 operational beds across 24 hospitals, according to available company and industry information.
Medicover’s India hospital business generated about EUR 220.5 million in annual revenue, according to reporting on the transaction. Medicover AB will receive around EUR 740 million in gross cash proceeds from the sale. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals.
The acquisition adds to KKR’s investments in India’s hospital sector. KKR had earlier acquired a controlling stake in Baby Memorial Hospital and acquired a stake in Healthcare Global Enterprises (HCG). Medicover had been preparing for an initial public offering of its India hospital business. The company had earlier said its IPO preparations were continuing while discussions with KKR were underway.
The transaction will allow Medicover to focus its operations on its core European markets, including Poland, Germany and Romania, while KKR will take over the India hospital business.
KKR’s acquisition is part of its investment activity in India’s healthcare delivery sector, where private equity firms have invested in hospital networks through acquisitions and strategic stakes.
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