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EY has successfully advised key stakeholders in assisting with the set-up of Marengo Asia Healthcare Private Limited (“Marengo”) – one of India’s largest healthcare investment platforms. As a part of this transaction, EY advised QRG Enterprises Private Limited to divest its stake in QRG Super Speciality Hospital (Faridabad) to Marengo for an undisclosed amount.
In addition to this, EY were the financial advisors to the Havells family office (QRG Investment and Holdings) on its investment in the Marengo platform.
Founded in April 2017, QRG Super Speciality Hospital is a 550+ bed NABH accredited Faridabad based hospital serving patients from Delhi-NCR, Haryana, Punjab, and Uttar Pradesh. QRG is equipped with world class medical infrastructure, senior doctors and empanelments for cashless treatment with all major insurance/TPA players.
Founded in October 2020, Marengo Asia Healthcare Private Limited is an investment platform backed by Samara Capital, Havells Family Office, and Godrej Family Office. In a short span of time, Marengo has already grown to a bed strength of 1,000+ with its investments in CIMS Hospital (Ahmedabad) and QRG Super Specialty Hospital (Delhi – NCR). The platform now has 3,000+ employees including 600+ doctors.
We are proud to have represented Havells Family and QRG Enterprises on this marquee healthcare transaction. The investment of Marengo highlights the need for access to quality healthcare and increasing transaction activity in this sector. With this transaction, EY has not only reinforced its credentials in healthcare M&A, but also delivered its ability to successfully helping set up one of India’s emerging healthcare platforms.