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The Silicon Review Asia

TPG Growth Signs a Pact with Varian Medical Systems to Sell Its Cancer Treatment Hospitals Chains for $283 Million

TPG Growth Signs a Pact with Varian Medical Systems to Sell Its Cancer Treatment Hospitals Chains for $283 Million

According to the announcement made by the mid-market and growth equity platform of TPG, TPG Growth, it will now be selling its cancer treatment hospital chains, i.e. Cancer Treatment Services International (CTSI). The firm has signed a definitive pact with Varian Medical Systems where CTSI will be sold for $283 million with the transaction being expected to be closed in two weeks.

Presently, CTSI is run by Asia Healthcare Holdings (AHH) which is owned by TPG Growth.The cancer care platform has a network of cancer treatment facilities in India and South Asia andhelps in building early stage, single-speciality healthcare delivery businesses in the region. Matthew Hobart, partner with TPG Growth, said that the investment in CTSI was made in 2016 believing that it had a strong foothold to attend to the needs and demands of quality cancer care in India. He also added that CTSI has now evolved to become one of the top providers of high-quality oncology services across India and South Asia.

Three years ago, CTSI had just one facility at Hyderabad; now it employs more than 1500 people and owns brands like the US-based CTSI Oncology Solutions, American Oncology Institute and AmPath. In India, the AHH has invested in various healthcare institutions like Nova Fertility and Bengaluru-based Rhea Healthcare Pvt. Ltd. While Nova Fertility runs a huge network of in-vitro fertilization centres across 15 cities, the Rhea Healthcare Pvt. Ltd operates women and children hospitals under the ‘Motherhood’ brands.

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