Manipal Health Enterprises Pvt Ltd
Manipal Health is one of India's leading integrated hospital services groups, with a strong presence in the south. It offers tertiary, secondary and primary health care services and has over 4,056 beds across 17 hospitals.
The company owns and operates 11 hospitals with 1,750 beds across eight cities/ towns and provides management consultancy to four hospitals with 2,306 beds. Its flagship hospital in Bangalore offers 60 super-specialties and is rated amongst the best in the country.
The group has a professional strength of over 1,000 doctors, 2,000 clinical staff and 2,800 non-clinical staff. It is currently expanding its owned and operated capacity.
For more information: http://www.manipalhospitals.com
Partnering Businesses That Mirror India�s Growth Story
Global investors are betting big on India�s long-term growth story.India istoday one of the most attractive emerging markets across Asia with a billion plus captive consumers. Kotak Private Equity is well positioned to develop compelling local investing themes.
Through macro research, in-house analytics and frequent industry interactions, we identify industry and socio-economic trends, local consumption patterns and need-gap opportunities on an ongoing basis. With a cumulative experience of successfully investing in over 100 growth companies, we regularly refine our investment focus based on emerging trends, sectors and investment opportunities.
Since inception, our focus sectors have mirrored the Indian economy�s growth story in terms of scale, competitive advantage and innovative business models. We prefer sectors like:
- Healthcare &Life sciences (pharmaceuticals and biotechnology)
- Consumer businesses (FMCG, retail, media & entertainment)
- Light manufacturing
- Agri-businesses and food processing,
- Information Technology (software products, services and IT-enabled services) and
- Infrastructure-led services
At Kotak Private Equity, we work as strategic partners with companies that demonstrate one or all of thefollowing value-oriented qualities:
- Sustainable competitive advantage that can be leveraged internationally
- Deep, untapped and fast growth-led domestic market opportunity
- Acquiring scale and sector dominance
Our team�s past investments include backing some of India�s most successful entrepreneurs across many of the sectors mentioned above.
Investment Value Creation
Accelerating Growth through Value Addition
At Kotak Private Equity, we believe in partnering with companies, not operating them. We partner to accelerate growth through need based strategic value-addition in a variety of ways. In addition to capital, we bring our expertise, experience and commitment to create a shared vision and value.
We follow a 4-point Value Creation Metric:
- Business Strategy Enhancement
Working with the company board and management team, we debate and discuss to arrive at a long-term strategy that captures the competitive advantage of the firm. A sound business strategy is the first step in creating sustainable market domination and long-term leadership for the company.
- Operational & Structural Improvements
Operational efficiency is one of the key areas where we work with the company. We work with management teams to identify bottlenecks to generate higher returns by restructuring capital, optimizing costs, streamlining manpower and revenue streams. We enable this through a multidisciplinary team of professionals comprising of business strategy experts, legal & tax experts and management consultants.
- Catalyzing Talent Acquisition
We bring significant brand power, recognition and network strength to our portfolio companies which in turn helps them attract the best talent in the industry. Inculcating the right talent and developing robust systems and processes is the key to achieving the next level of growth for most emerging businesses.
- Enabling Governance & Professional Reporting
We work with leadership teams to ensure the best standards of governance and reporting through regular MIS, external and internal audits and formal board processes.
We believe that we can never substitute an entrepreneur�s energy, passion and drive. Hence, at Kotak Private Equity, we like to complement these skills with strategic growth advice, skill enhancement and operational efficiency to disproportionally deliver on his business plan.
Treating Capital with an Ownership Mindset
At Kotak Private Equity, we follow an investment process that has been developed through years of investment experience. The investment process captures the sensitivities and challenges of growing businesses in an Indian business environment as well our past experiences in dealing with Indian entrepreneurs.
We typically follow a 4-step Investment process that helps us treat capital with an ownership mindset.
- Deal Sourcing and Evaluation
We use multiple channels � our network of relationships, the Kotak Mahindra Group�s business relationships, industry networks and leverage our in-house research � to source and evaluate opportunities.
- Due Diligence& Investment Commitment
We have a disciplined and rigorous due diligence process by which we evaluate deals that fit into our investment criteria. Ideally, we evaluate 8-10 deals in a year with each due diligence process requiring between 120-180 days to be completed.
- Investment Structure & Co-investing Opportunities
Once the investment selection is complete, our team prepares the investment structure and identifies if any co-investing opportunities exist. This exercise is done in close collaboration with the company�s management team so that a shared goal is created for future upside participation.
- Monitoring and Value Addition
Once the transaction is completed, designated members from our team work closely with the company�s management to create value across the entire passage of the investment. As per agreed timelines and performance goalposts, we work towards a timely and profitable exit.
Since its inception,Kotak Private Equity has been the preferred investment partner with local management teams on account of its transparent and rigorous investment process, significant value creation and strategic and timely exit.
Investment Structure & Size
Crafted Solutions for Growth
We design bespoke investment structures for each of ourportfolio companies based on theirindividual growth requirements. We believe in patient investing through structured instrumentsthat help build partnerships with management teamsanddeliver on mutually aligned goals and incentives.
Investment Size and Structure
- Investment ticket size of USD 20-40 million
- Opportunistically co-invest with LPs in larger transactions
- Significant minority ownership with active board-level participation