Hyderabad/Mumbai, April 9, 2015: Warburg Pincus has sold its27% stake in Metropolis Healthcare Ltd, to the promoter Shah family. India’s leading pathology chain, Metropolis Healthcare is respected as India’s only multinational chain of pathology laboratories with presence in UAE, Sri Lanka, South Africa, Kenya, Mauritius and Ghana and is reputed amongst doctors and patients for delivering top quality pathology reports for over 33 years.
Niten Malhan, Managing Director, Warburg Pincus India Private Limited said,“The decision to invest in Metropolis in 2010 was based on our thesis that demand for and growth trends in medical diagnostics will continue and that Metropolis was well positioned to benefit. We are pleased to have partnered Metropolis during its critical growth phase. 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. We wish the company and its stakeholders continued success in the next phase of their journey.”
Commenting on the development Ms. Ameera Shah, MD & CEO, Metropolis Healthcare Ltd., said “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. The company is now supported by eminent independent directors and I am backed by other marqueeinvestors including KKR and eminent industrialists. The relationship with Warburg Pincushas a mutually beneficial for the investor and the company. With the new shareholding structure, Metropolis will be on an even more aggressive path.”