Khaitan & Co advised The Eye Foundation Ltd and its promoters on the acquisition of a minority stake by Verlinvest SA in The Eye Foundation Ltd for an aggregate consideration of USD 75 million.
The deal is Verlinvest’s largest commitment in Indian healthcare and also marks one of the largest single specialty healthcare investments by private equity in India.
The Eye Foundation Ltd, founded and headquartered in Coimbatore, operates over 25 hospitals across Tamil Nadu, Kerala and Karnataka.
The Firm was involved in conducting a vendor legal due diligence of the client and advising the client on all aspects of the transaction, including structuring, drafting, negotiation and finalisation of transaction documents, closing and post-closing aspects.
The deal was assisted by:
Employment, Labour & Benefits: Vinay Joy (Partner), Aditya J Nair (Senior Associate) and Shaaryl Dsouza (Associate)
Privacy and Data Protection: Supratim Chakraborty (Partner), Sumantra Bose (Counsel) and Mayank Barman (Associate)
Intellectual property: Nirupam Lodha (Partner) and Shivangi Narang (Principal Associate)
Real estate: Vaishnavi Subrahmanyam (Principal Associate) and Hemangini Srinidhi (Associate)
The core team consisted of Vivek Sriram (Partner), Varun Narayan (Partner), Atul Narayan (Senior Associate), Karthik Sridhar (Senior Associate), Aanchal Kapoor (Associate), Akhila Deekshitha Baddepudi (Associate), Rexey Soosan Sabu (Associate) and Vishnu Vasudevan Chengath (Associate).