Livewell Healthcare gets PE funding

The speciality hospital is expected to be operational in the next couple of months

Livewell Healthcare, which is into setting up of speciality hospitals, has obtained private equity funding from Exhilway Global Opportunities Private Equity Fund, according to its chairman and chief executive officer AMV Sai Kumar.

The Hyderabad-based company has firmed up plans to establish a 120-bedded facility in the city and a bigger hospital in the Republic of Guinea, Africa.The two projects entail an investment of Rs 55 crore.

Kumar stated in a press release on Wednesday that the US-based fund would provide Rs 12 crore of the Rs 25-crore project in Hyderabad. He and another promoter Uday Kumar Rachakonda would raise the balance.

The speciality hospital situated in the heart of the information technology hub in Madhapur is expected to be operational in the next couple of months.

The African hospital is being established in Conakry, the capital of Guinea. The government of Guinea has offered the Jean Paul II hospital, which has 250 beds. The focus of the Rs 30-crore venture would be to deliver multi-disciplinary tertiary level care of international standards along with high-end diagnostic facilities in all fields, Kumar said.