o3 Capital acted as the exclusive financial advisor to Asian Institute of Nephrology and Urology ("AINU") for acquisition of a majority stake by Asia Healthcare Holdings ("AHH").

Founded by Dr. C Mallikarjuna & Dr. Purna Chandra Reddy in 2013, Asian Institute of Nephrology and Urology (AINU) is a chain of urology & nephrology hospitals, operating 500 beds across its network of seven hospitals in Hyderabad, Chennai, Vizag and Siliguri. It offers treatment for various urology conditions like stone diseases, urology cancer treatments, prostate disease interventions, reconstructive urology surgeries, laparoscopic urology procedures, and andrology services as well as advanced care for patients with acute, chronic, and end-stage renal diseases (ESRD). It has treated more than 4 lakh patients, completed over 50,000 procedures, 1,000 robotic urology surgeries and on the nephrology front, performed more than 2 lakh dialysis and 300 kidney transplants till date. AINU’s shareholders included reputed institutions such as Asian Institute of Gastroenterology (AIG) and HealthQuad.

Asia Healthcare Holdings (“AHH”) is a leading single specialty healthcare platform backed by TPG Growth and GIC (Singapore’s sovereign wealth fund). Since its establishment in 2017, AHH has successfully expanded into women & children's healthcare (Motherhood Hospitals), IVF & fertility (Nova IVF) and oncology (CTSI, now exited), with each achieving leadership positions in their respective domains.

This transaction marks AHH's foray into the urology and nephrology segment, while establishing it as the largest and sole single-specialty healthcare delivery platform in India.

Dr C Mallikarjuna & Dr Purna Chandra Reddy, Founders of AINU said, “Indians have a high incidence of kidney stones, and non-cancerous prostate enlargement issues. Increasingly, we have observed a rise in the incidence of urological cancer in the last decade. Cancer of the prostate and bladder are becoming more common. Our team has performed over 1,000 robotic surgeries for urological cancers. We are making robotic urology surgery accessible to patients not just in urban India but also in tier-2 cities. Broadly, we see a higher incidence of uro-oncology, uro-gynaecology and paediatric urology in the years ahead. We believe AHH, with its focus on clinical excellence and patient centricity is the right partner for the next phase of growth of our enterprise”.

Vishal Bali, Executive Chairman of AHH said “AINU is a distinct single specialty hospital chain in urology and nephrology built on the foundation of deep clinical expertise and led by clinicians with decades of experience in the specialty. AINU not only adds a new speciality to the AHH platform but also strengthens our vision of scaling the single specialty healthcare delivery ecosystem in the country. We are thrilled to collaborate with AINU to address the demand-supply gap in the urology and nephrology sectors”.

TPG Growth’s Bhushan Bopardikar said “We are excited to partner with Dr. C Mallikarjuna and Dr. PC Reddy and be a part of the next phase of growth at AINU. AINU is a leader in urology and nephrology care and our investment in AINU furthers our strategy of creating a leading single specialty healthcare platform in the country”.

Dr. Pinak Shrikhande, Managing Director at HealthQuad, said: "We are proud to have been a part of AINU's journey over the years, supporting its mission to provide world-class nephrology and urology care. HealthQuad’s successful exit is a testament to the exceptional value that AINU has created over the years for all stakeholders. We express our appreciation towards o3 Capital for playing a critical role in stitching together AINU’s strategic partnership with Asian Healthcare Holdings”.

This marks o3 Capital's 13th deal closure in the Healthcare & Lifesciences space in the last 24 months.