UK's Advent Int'l to buy shares in Care Hospitals

UK-based private equity fund Advent International has invested about $105 million in India's Care Hospitals by acquiring shares from some of the existing investors and injecting additional capital into the business.

Care is the largest multi-specialty hospital chain in South India, with strength in cardiac care, neurology, nephrology and general medicine, the private equity fund said in a statement.

This is Advent's third investment in India. The statement did not specify what stake the private equity fund would get in Care.

Advent, which manages about $26 billion globally and has made investments in CAMS, a provider of outsourced transaction processing for mutual funds and insurance and Element-K, a corporate e-learning business acquired by SkillSoft.