Mumbai: Somerset Indus Capital Partners has announced its complete exit from Apex Hospitals, a multispecialty hospital group in Rajasthan. The investment firm reported a fourfold return on its investment, marking the first exit from Somerset Fund II.
Somerset invested in Apex in May 2019. Since then, the hospital group has tripled its revenue and recorded more than a fourfold increase in EBITDA, according to the announcement. Apex also doubled its workforce during this period, expanding its presence in Rajasthan.
The private equity firm said it supported Apex in initiatives such as the launch of telehealth and e-ICU platforms to extend care to underserved regions, as well as the establishment of a Cancer Care Centre of Excellence, the first in the region.
“From the very beginning, the promoters’ passion and commitment to addressing the healthcare needs of underserved Tier 2 and 3 cities in Rajasthan resonated deeply with us,” said Ramesh Kannan, partner at Somerset Indus Capital Partners. He added that the firm helped lay the foundation for Apex’s digital health and technology-led care initiatives.
Dr. Shailesh Jhawar, promoter of Apex Hospitals, credited Somerset with strengthening the hospital group’s strategic pillars and supporting projects such as Tele-ICU, Tele-OPD services, and modular hospital expansion.
Somerset said it remains focused on investing in healthcare businesses that serve underserved markets.