Global investors led by Arpwood Partners acquire majority stake in Sterling Hospitals in Gujarat
Ahmedabad, June 30, 2022
Sterling Addlife India Pvt Ltd, which operates the Sterling Hospitals chain of multi-specialty hospitals in Gujarat, has been acquired by a global consortium led by Arpwood Partners.
The founder of Sterling Hospitals, Girishbhai Patel, has retained a minority stake and will continue to be a mentor to Sterling Hospitals, a press release from the company said.
“ The partnership with Arpwood is aimed at pursuit of medical excellence at Sterling Hospitals to serve Gujarat. I have high confidence that Arpwood will be a capable new custodian of Sterling," Patel said.
A spokesperson for Arpwood Partners said, “Our intent at Sterling Hospitals is to build on its legacy of trust with investments in high-calibre clinical talent, infrastructure upgrade and patient service experience, and deliver quality medical care to patients.
"We will soon announce an experienced CEO who has had a long and distinguished record at one of the largest national healthcare chains.
"Incidentally, all the three founders of Arpwood are privileged to have pursued post-graduate studies from Ahmedabad and are pleased to renew their association with the state of Gujarat and with its admirable people.”
Founded in 2001 by Girishbhai Patel, Sterling Hospitals is amongst the first corporate hospitals in Gujarat with a 20+ year strong brand legacy. It is the largest multispecialty hospital chain in Gujarat with a presence in Ahmedabad, Vadodara, Rajkot and Gandhidham. Sterling operates a network of 6 NABH accredited hospitals (which include two comprehensive oncology units) with a combined 1,000+ operating beds.
Arpwood Partners is a private equity firm focused exclusively on mid-market buyouts, providing solutions for shareholder transition in high quality mid-market franchises. Arpwood seeks profitable market share expansion by enhancing the customer value proposition of its investee companies. Arpwood delivers on its objectives by bringing in high quality management talent and a culture of excellence in its portfolio companies, the release added.