Medicover Hospitals Acquisition, Valuation, Funding & Investors

Medicover Hospitals was acquired by KKR for $1.4B in August 2026, a 5.4x multiple on $254M of revenue.

Medicover Hospitals acquisition price

$1.4B

Acquired by KKR · Aug 2026

Medicover Hospitals revenue at acquisition

$254M

Last twelve months · Aug 2026

Medicover Hospitals revenue multiple at acquisition

5.4x

EV/Revenue · Aug 2026

Cumulative funding Medicover Hospitals raised

$29M

across 3 funding rounds

Medicover Hospitals Overview

About Medicover Hospitals

Medicover Hospitals is an India-based multispecialty chain with seven facilities in Telangana, Andhra Pradesh, and Maharashtra totaling 1,500 beds. Operating since 2019 from Hyderabad, it offers services in cardiology, oncology, neurology, and IVF across 50 specialties. Its 2,000 doctors perform 100,000 surgeries annually using robotic systems and international protocols.


Founded

2011

HQ

IndiaHyderabad

Status

Acquired

Customer focus

B2C

Revenue model

Services

Revenue

$254M (Aug 2026)

Valuation

$1.4B (acquired Aug 2026)

Medicover Hospitals Acquisition

Medicover Hospitals was acquired by KKR for $1.4B on 6 August 2026.

The acquisition price implies a 5.4x revenue multiple on $254M of revenue.

Before the acquisition Medicover Hospitals had raised $29M across 3 funding rounds.

KKR agreed to acquire Medicover Hospitals India from Medicover AB in an enterprise-value transaction of EUR 1.2 billion, with Medicover expected to receive EUR 740 million in gross cash proceeds. The deal was announced on August 6, 2026 and is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions. Medicover is divesting 100% of the Indian hospital business, including its minority partners' interests, and the transaction is described as a full acquisition by funds managed by KKR. The sale gives Medicover capital to accelerate its strategic focus on its core European markets, particularly Poland, Germany, and Romania. For KKR, the acquisition expands its healthcare footprint in India, where it has targeted growth in hospital and healthcare services assets. KKR may provide additional primary capital to support Medicover India's next phase of expansion. Medicover India was established in 2017 and operates a multi-specialty hospital network with 24 hospitals and about 4,800 beds across South and West India. On a last-twelve-months basis through June 30, 2026, the business generated EUR 220.5 million in revenue and EUR 26.1 million in EBITDA, implying transaction multiples of roughly 5.4x revenue and 46x EBITDA. Medicover owned about 66% of the business before the sale, with the remainder held by minority shareholders.

Medicover Hospitals acquisition details
AcquirerDateTypePriceEV/Revenue
6 Aug 2026PE buyout$1.4B5.4x

Medicover Hospitals Funding History

Medicover Hospitals has raised a total of $29M across 3 funding rounds.

Medicover Hospitals' first fundraising round was a $2M angel round in September 2015. The most recent completed round was a $16M Series B in September 2017.

Medicover Hospitals funding rounds

Medicover Hospitals funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2017Series B-$16MMedicover is an international healthcare and diagnostic services provider operating hospitals and clinics. In 2017, the group reported revenue of EUR 580.2 million, reflecting 16.7% growth and 14.5% organic growth, surpassing medium-term targets of 9-12% annual revenue growth. Adjusted EBITDA reached EUR 55.0 million with a 9.7% margin, and EBITDA growth was 27.3% excluding IPO costs. The Diagnostic Services division generated revenue of EUR 304.4 million, up 16.9% with 16.5% organic growth. Investments included healthcare services expansions, with EUR 16.7 million invested in new healthcare in 2017. The group raised EUR 207.6 million through financing, partly used for expansion into India, strengthening the balance sheet. Staff increased by 10.4% in line with revenue growth, supporting 5.7 million medical visits, 124 million laboratory tests, and 11,400 babies born via treatments. Interest-bearing net debt to EBITDA was 0.2x, well below the 3.5x target. One asset was valued at EUR 48.3 million by Colliers International Poland, but no funding round valuation for Medicover Hospitals was detailed.
May 2017Series ACelox Group$10M-
Sep 2015AngelAniruddh Mundra$2M-

Who has invested in Medicover Hospitals?

2 investors have backed Medicover Hospitals across its funding rounds, including Aniruddh Mundra and Celox Group.


Medicover Hospitals Investors

Investors in Medicover Hospitals by funding rounds participated
InvestorHQRoundsRoleFirst check

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Medicover Hospitals Competitors

Medicover Hospitals competitors include listed companies like Almoosa Health, Mitra Keluarga, Ramsay Santé and Pennant Group, and private ones like Fosun Health and Kerala Institute of Medical Sciences.

Public and private companies comparable to Medicover Hospitals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Almoosa HealthSaudi ArabiaSaudi ArabiaPublicly listed$378M$95M$1.4B4.2x
Mitra KeluargaIndonesiaIndonesiaPublicly listed$303M$116M$1.4B3.8x
Ramsay SantéFranceFrancePublicly listed$6.2B$720M$1.4B-
Pennant GroupUnited StatesUnited StatesPublicly listed$948M$61M$1.4B1.7x
Fosun HealthChinaShanghaiPrivate$913M-$1.5B1.6x
Kerala Institute of Medical SciencesIndiaIndiaPrivate$118M-$1.3B10.6x

Medicover Hospitals Public Comps

Medicover Hospitals is no longer listed, but its public comps include Almoosa Health, Mitra Keluarga, Ramsay Santé, Pennant Group, National Medical Care, AMN Healthcare Services, Spire Healthcare Group, Siloam Hospitals, Nutex Health and Netcare.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Almoosa Health$378M$95M4.6x4.2x18.4x-
Mitra Keluarga$303M$116M4.2x3.8x10.8x10.1x
Ramsay Santé$6.2B$720M0.9x-8.0x-
Pennant Group$948M$61M2.0x1.7x31.6x21.5x
National Medical Care$427M$124M3.7x3.5x12.7x12.7x
AMN Healthcare Services$2.7B$101M0.6x0.6x17.3x5.8x
Spire Healthcare Group$2.1B$323M1.4x1.4x9.4x8.0x
Siloam Hospitals$724M$161M2.1x2.1x9.6x8.3x

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Common questions about Medicover Hospitals

When was Medicover Hospitals founded?Medicover Hospitals was founded in 2011.
Where is Medicover Hospitals headquartered?Medicover Hospitals is headquartered in Hyderabad, India.
Is Medicover Hospitals publicly listed?No, Medicover Hospitals was acquired by KKR in August 2026.
Who acquired Medicover Hospitals?Medicover Hospitals was acquired by KKR in August 2026.
How much was Medicover Hospitals acquired for?Medicover Hospitals was acquired for $1.4B in August 2026, a 5.4x revenue multiple.
How much funding has Medicover Hospitals raised?Medicover Hospitals has raised $29M across 3 funding rounds.
What was Medicover Hospitals' last funding round?Medicover Hospitals' last funding round was a $16M Series B in September 2017.
Who are Medicover Hospitals' investors?Medicover Hospitals' investors include Celox Group and Aniruddh Mundra.
Which companies are comparable to Medicover Hospitals?Companies comparable to Medicover Hospitals include Almoosa Health, Mitra Keluarga, Ramsay Santé, Pennant Group, Fosun Health and Kerala Institute of Medical Sciences.

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