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EY has advised Sterling Addlife India Private Limited (Sterling Hospitals) and its shareholders on a majority stake sale to Arcturos Healthcare, a healthcare investment platform set up by Arpwood Partners and its co-investors.
Girishbhai Patel has retained a minority stake and will continue to be a mentor to Sterling Hospitals.
EY acted as the exclusive investment banking advisor to Sterling Hospitals and its shareholders.
Founded in 2001 by Girish-bhai Patel, Sterling Hospitals is amongst the first corporate hospitals in Gujarat with a 20+ year 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 includes 2 comprehensive oncology units) with a combined 1,000+ operating beds.
Arpwood Partners is a private equity firm focused on mid-market buyouts, providing custom solutions for succession and shareholder transitions.
We are delighted to have advised Sterling Hospitals and Girish-bhai on this landmark transaction in the healthcare sector. With Arpwood’s investment, Sterling Hospitals will be able to invest further in high-quality clinical talent and infrastructure and thereby consolidate its leadership position in the Gujarat healthcare market. This marquee transaction marks EY’s 6th healthcare sector transaction in the last 12 months thus consolidating our leadership position in the sector.