Asiri

Asiri Image

Region

South Asia

Country

Sri Lanka

Deal type

Expansion

Investment date

2012

Exit date

2015

Status date

Realised

Private hospitals 

Lifestyle diseases are increasing in the emerging markets and with government-led provision taking the strain, those consumers who can afford to, will often turn to the private hospital sector.

Asiri is Sri Lanka’s premium private hospital chain, located across four sites in Colombo and the southern city of Matara. It has approximately 570 beds, representing approximately 30% of the nation’s private sector capacity, with significant expansion underway. Sri Lanka’s government and private sector healthcare already compares well with its emerging market peers and Asiri is the clear leader with a reputation for best-in-class doctors, staff and infrastructure.

Actis invested in Asiri in October 2012 and helped its management team further strengthen its market-leading position creating value through restructuring group operations, focusing on procurement efficiencies and expanding capacity in key specialities such as neurology and cardiology.

During Actis’ investment period, Asiri grew considerably and expanded its operations. It consolidated its position as the clear and trusted leader in private healthcare in the country due to its best-in-class doctors, staff and infrastructure. Asiri is well-positioned to continue its growth and play a major role in the development of private sector healthcare in Sri Lanka.

The South Asia team was able to draw on significant experience in the healthcare sphere from its work with the largest hospital chain in Gujarat, Sterling Add-Life and clinical research company, Veeda. In December 2015, Actis sold its stake in Asiri to TPG Growth III, a global PE fund.