Artemis Medicare Services secures Rs 330cr from International Finance Corporation
Artemis Medicare Services Ltd. (BSE: 542919 | NSE: ARTEMISMED), a prominent healthcare provider in the Delhi NCR region, has announced a substantial financial boost, securing an investment of INR 3,300 million from the International Finance Corporation (IFC), a member of the World Bank Group. This investment, structured as Compulsorily Convertible Debentures (CCDs), marks a significant milestone in the company’s journey to expand and enhance its healthcare facilities and services.
Operating 713 beds, including a 541-bed quaternary care, super-specialty hospital accredited by the Joint Commission International and the National Accreditation Board for Hospitals & Healthcare Providers, Artemis is a beacon of medical excellence in the region. The company also manages five hospitals under the Artemis Lite and Daffodils brands and seven centres under the Artemis Cardiac Care brand, in partnership with Philips. Notably, Artemis prides itself on a strong female representation within its board, including its Managing Director, Dr. Devlina Chakravarty, highlighting its commitment to diversity and leadership in healthcare.
The new funds from IFC are earmarked for a strategic expansion plan that includes increasing bed capacity and introducing advanced specialty services. Artemis aims to bridge the demand-supply gap in healthcare and strengthen its footprint in the Delhi NCR area. By leveraging both brownfield and greenfield opportunities, the company is set to accelerate its growth trajectory and extend its services across society’s spectrum.
IFC’s investment is poised to significantly impact healthcare accessibility and quality in the region. With a focus on expanding bed capacity, introducing new medical specialties, and setting up cardiac care centers in Tier 2 and 3 cities, Artemis is committed to improving healthcare delivery. This initiative is expected to create jobs, promote professional development in the medical field, and especially empower women within the healthcare sector.
This strategic investment is contingent upon the approval of Artemis’s shareholders, in-principle approval from stock exchanges, and the fulfillment of customary closing conditions. KPMG served as the exclusive financial advisor, while Khaitan & Co acted as the legal advisor to Artemis Medicare Services Ltd.
The collaboration between Artemis Medicare Services Ltd. and the International Finance Corporation heralds a new era in healthcare for the Delhi NCR region, promising to deliver more affordable, accessible, and high-quality medical services to those in need.