KKR is set to acquire 100% of the shares in Medicover India (MHI), the India operations of Sweden-based international healthcare and diagnostic company Medicover for €1.2bn (US$1.4bn). The deal nets Medicover, which owns 66.1% of Medicover India, gross cash proceeds of €740m in total. The remaining shares were held by minority partners.
KKR’s investment reflects its belief in the long-term development of India’s healthcare ecosystem.
Established in 2017, Medicover India is a multi-specialty hospital network. As per end of June 2026, the platform comprised 24 hospitals, around 4,800 beds across South and West India, providing comprehensive care across more than 80 clinical specialties, supported by more than 1,900 doctors and around 11,400 employees, serving millions of patients each year. It generated annual revenue of €220.5m and EBITDA of €26.1m over the last 12 months as of 30 June.
In December 2024, Medicover announced that a listing of MHI in India was being evaluated as a strategic alternative for MHI’s next phase. In June 2026, it confirmed discussions were taking place with KKR as an alternative to the planned IPO.
“We are pleased to invest in Medicover India and look forward to contributing to its next phase by investing behind its talent, technology, infrastructure and clinical capabilities, while reinforcing strong clinical governance and operational standards,” said Akshay Tanna, partner and head of India Private Equity at KKR.
Medicover will use proceeds from the deal to accelerate its strategy in Poland, Germany and Romania, and strengthen its financial position and flexibility.
“We have a clear strategy for how we intend to grow and expand margins in our key markets,” said John Stubbington, CEO of Medicover. “This includes continued expansion of the network and product offering, improved capacity utilisation, capturing synergies, and accelerate technology initiatives.”
Advisors
Rothschild & Co is financial advisor to Medicover. McDermott Will & Schulte, Cyril Amarchand Mangaldas and Advokatfirman Vinge are acting as legal counsel.
Press release: KKR to Acquire Leading Multi-Specialty Healthcare Provider Medicover India
