Global growth investor General Atlantic will acquire a majority stake in the hospital chain Ujala Cygnus, according to a joint statement released by the companies.
Ujala Cygnus is a leading healthcare provider in Northern India with a network of 21 hospitals serving tier 2 and 3 cities.
As part of the agreement, the company’s early investors—Eight Roads Ventures, Somerset Indus Capital, and Evolvence Capital—made a full exit, stated the release.
Funds from General Atlantic will be utilized to upgrade clinical and infrastructure capabilities across Ujala Cygnus’ network and enhance comprehensive care offerings in key specialties.
The investment will also facilitate the expansion of Ujala Cygnus’ network across Northern India.
Under its unique asset-light model, Ujala Cygnus establishes long-term partnerships with hospitals, enabling the expansion of its reach. Ujala Cygnus chairman and managing director Probal Ghosal stated that since 2018, the company has expanded its hospital network from nine to 21 facilities across 17 cities in five states, increasing bed capacity from 1,000 to over 2,500 beds.
The company aims to pursue both organic and inorganic growth strategies, including collaborations with local hospitals through leasing and revenue-sharing models.
Shuchin Bajaj, founder-director of Ujala Cygnus, expressed his anticipation that with General Atlantic’s support, the platform will expand, and more healthcare practitioners will join the transformative movement and the Ujala Cygnus mission.
