For VCs, growth private equity, family offices, AIFs and corporate strategics deploying into Indian healthcare. Seven practising clinicians who read the clinical asset and the cash flow with equal confidence - and who hold active posts in the institutions your targets are trying to sell into.
Sources: Bain & Company, Global Healthcare Private Equity Report 2026. Avendus Capital, June 2025. Quadria Capital, press release, 27 May 2025.
Every challenge is tagged to a lens, and every challenge is answered by a named service on this page.
Standalone specialty assets trade at roughly 8–18× EV/EBITDA against 25–35× for listed multi-specialty networks, and two assets with identical patient volumes can sit six turns apart. The drivers are usually documentary rather than clinical, which makes them invisible until diligence.
Source: BSE/NSE 2024; KPMG India, December 2025 How we solve thisPublic market avenues for standalone specialty assets are few. Exits typically occur via debt financing at a discount, yielding 5–7% IRR against 12–15% for multi-specialty platforms, and PE capital targets only a narrow slice of standalone specialties.
Source: PwC PE India Report; BSE/NSE 2024 How we solve thisClinical quality, regulatory exposure, consultant dependence and workflow feasibility do not appear in a financial model, yet they determine whether the projected case mix is achievable at all. A published study of 200 US ophthalmology practices recorded physician departures rising 265% within three years of private equity acquisition.
Source: published study of 200 US ophthalmology practices, cited in our hospital value creation brief How we solve thisThe work is organised across six lenses: innovation, efficiency, marketing and sales, financial structuring, regulation and compliance, and delivery.
Independent clinical, regulatory and operational assessment of target companies. Our doctor-led team evaluates clinical risk, regulatory exposure, management quality and operational scalability before term sheets are signed.
Counters: Clinical Risk Invisible in the ModelThe person questioning the theatre list has run one, and the person reading the case mix has treated it. Three to five days inside the asset, examining throughput, occupancy, payer mix, earnings quality and the records a fund opens first.
Buy-SideIndependent clinical, regulatory and operational assessment of target companies. Our doctor-led team evaluates clinical risk, regulatory exposure, management quality and operational scalability before term sheets are signed.
Counters: Clinical Risk Invisible in the ModelEmbedding operational expertise into portfolio companies post-close - acting as a fractional COO or CMO to drive milestones, manage regulatory risk and accelerate the path to the next round or exit.
Value Creation · Portfolio OperationsThe person questioning the theatre list has run one, and the person reading the case mix has treated it. Three to five days inside the asset, examining throughput, occupancy, payer mix, earnings quality and the records a fund opens first.
Buy-SideSynergy modelling built on real clinical workflow rather than an org chart - what actually merges, what cannot, and which of the projected savings survive contact with a theatre schedule.
Buy-SideProprietary sector reports on Indian healthcare sub-verticals covering consumer stratification, competitive mapping, regulatory environment, unit economics benchmarking and exit comparable analysis.
Sector Intelligence · HEORApproaching hospital chains, pharma groups and global health funds seeking Indian acquisitions - and presenting your asset to them ourselves, on your mandate, rather than forwarding it to whoever is buying.
Counters: Exit ConstrictionProprietary sector reports on Indian healthcare sub-verticals covering consumer stratification, competitive mapping, regulatory environment, unit economics benchmarking and exit comparable analysis.
Sector Intelligence · HEORAccess to our curated pipeline of pre-screened healthcare ventures across startups, clinics and hospital assets. We match deal mandates to founders and promoters actively raising.
Deal Flow · Pipeline AccessHealthcare-specific valuation frameworks - EV/EBITDA, revenue multiples, bed-value benchmarks - structuring of equity, mezzanine, convertible debt and revenue-share instruments, and the governance and reporting frameworks institutional investors require. The finance work is handled in-house by NISM-certified members of the team.
Counters: Multiple Dispersion & Valuation OpacityConnecting promoters and founders with PE firms, infrastructure funds, NRI family offices, AIFs and government schemes. We manage the introductions and the pitch process, and we hold signed MOUs across multiple investor partners.
PE · Family Offices · AIFsBuilding the universe of realistic targets or realistic acquirers, screened on clinical fit and integration feasibility rather than on a screen of financials alone.
Buy-SideHealthcare comparables that account for city tier, payer mix and asset type - because standalone specialty assets and listed multi-specialty networks are not the same trade, and pricing them alike is how deals go wrong.
Buy-Side · Sell-SideThe data room built to what a fund will actually open first, with a diligence readiness scorecard measured against the same list. Preparation done in the eighteen months before signing is what shapes the terms you can accept.
Counters: Records, MIS & Diligence ReadinessPutting the clinical asset into language investors read correctly, and supporting the quality-of-earnings work - because earnings that do not survive verification are the single most common reason an offer is cut after diligence begins.
Sell-SideAccreditation status, clinical governance, licensing, and the regulatory exposures that surface after close if nobody clinically qualified looked before it.
Buy-SideThe work after close, where most value is actually lost. Protocol harmonisation, consultant retention, procurement consolidation and the MIS unification that lets the combined entity report as one.
Buy-Side · Post-CloseWhich applies depends on whether you are asking us to look at one asset or to work a mandate over time. Both are agreed in writing before we begin, including how a fee behaves if a transaction does not complete.
For investors working a specific acquisition or a defined pipeline of targets.
For funds who want continuing sector intelligence, origination and portfolio support.
Our mandate on any given transaction comes from one side in writing, and we tell you which side at the outset. We hold no side arrangement that would place us on both ends of the same deal.
Clinical diligence the spreadsheet cannot give you. Let us talk about your mandate.