Global investor KKR & Co is in advanced discussions to extend Rs 500 crore funding to Radiant Life Care, which operates two historic hospitals, B L Kapur in New Delhi and Balabhai Nanavati in Mumbai.
Radiant has held discussions with other investors like Blackstone, Partners Group and Everstone Capital to raise cash. The talks with KKR advanced after some of the suitors opted out, sources said. KKR’s financing offer comes with a 15% coupon rate and 5% equity upside. When contacted, KKR and Radiant declined to comment.
Radiant plans to take hospital beds under management to 4,000 via greenfield and brownfield expansion in 3 to 4 years. It’s also pursuing acquisition opportunities and is considering a bid for Hiranandani Hospital at Thane near Mumbai.