Debevoise & Plimpton LLP has advised the Evercare Group (“Evercare”) regarding the equity and debt financing arrangements in connection with its sale of a majority shareholding in CARE Hospitals to private equity funds managed by Blackstone. Evercare is an emerging markets healthcare delivery platform wholly owned by the Evercare Health Fund, a $1 billion emerging markets healthcare fund managed by TPG and backed by The Rise Fund.
In a related transaction, CARE Hospitals has signed a definitive agreement to acquire a majority stake in KIMSHEALTH, creating one of India’s largest hospital platforms with 23 facilities across 11 cities in India.
TPG, through its Evercare Health Fund, will retain a significant minority stake in the combined platform.
The Debevoise team advising Evercare was led by partner Geoffrey Burgess, and included associates Mark Hume and Zachary Sosah. Finance advice was provided by partner Alan Davies and associate Michelle Gilmore-Parry.