India’s leading pathology chain Metropolis Healthcare on Thursday said private equity (PE) investor Warburg Pincus has sold its 27% stake in the company to the promoters for an undisclosed amount.
Niten Malhan, managing director of Warburg Pincus, said the PE firm had invested in Metropolis in 2010 based on the thesis that demand and growth trends in the medical diagnostics segment would continue.
“Metropolis, through its innovative vision and focused business acumen has now metamorphosed into one of India’s leading pathology specialists and has created immense value for all its partners”, Malhan said.
Ameera Shah, managing director and chief executive of Metropolis Healthcare, said the company continues to be backed by other marquee investors including KKR and eminent industrialists.
“Warburg Pincus invested in the company in 2010 and after nearly five years of support, has sold its shares for handsome returns. The shares have been acquired by me and my family and we are very excited about the new phase of growth in Metropolis and the industry”, Shah added.
Metropolis Healthcare is a multinational chain of pathology laboratories with presence in UAE, Sri Lanka, South Africa, Kenya, Mauritius and Ghana.