We prepare a Hospital or Clinic so outside capital can assess it properly. We structure the transaction and bring the right investor or buyer. We stay involved in operations after the money goes in. This page sets out what that means in practice, what we check before anything moves, and who is accountable for what.
A provider's path and an investor's path start separately and meet at one point. Most of the work happens before they meet, which is exactly why the meeting is worth anything. An M&A mandate follows the same shape, with a buyer instead of an investor.
What you are trying to do, what the business looks like today, and whether we are the right people to help at all.
Ticket size, risk appetite, how long you can commit capital, and which structures are relevant to you.
An honest view of where the business stands, an indicative valuation, and a written list of what is blocking capital.
Entity structuring, books and filings, MIS and reporting, licences brought current, and reducing dependence on any one individual. The long part.
We run our own diligence on the business, agree a defensible valuation, and assemble the information set an investor will ask for.
A prepared business is introduced to investors for whom it is a genuine fit. Everything above happens before this point.
You present your own business. We are in the room, but it is your Hospital or Clinic and your story to tell.
You receive the full pack, including what we consider weak. You visit, you question, and you form your own view.
Amount, instrument, security, covenants and reporting. We advise you, but you decide what you are willing to accept.
Terms are agreed directly between you and the business. We structure and facilitate. We do not decide for either side.
Definitive agreements, board resolutions, security creation and statutory filings, drafted by qualified legal counsel.
Your own counsel reviews everything. Security, where applicable, is registered before funds move.
Money moves from the investor directly into the business. Often staged against agreed milestones rather than all at once.
Directly to the business, never through us. You hold your own documentation and security.
Reporting discipline, and operational help where the business needs it. Collections, procurement, patient volume.
Regular numbers in a consistent format, with problems raised early rather than at the point they become serious.
Healthcare is not a generic small business. A Hospital can be profitable and still be uninvestable because of a lapsed registration or an unregistered machine. This is where knowing the sector matters more than knowing finance.
Several healthcare licences are tied to specific equipment and specific named people. A PCPNDT registration attaches to a particular machine and a qualified operator. An AERB licence attaches to a particular installation. A change in ownership, a change of machine, or the departure of a named practitioner can require fresh approval before the business may lawfully continue that activity. We check this before a transaction is structured, not after, because it can change what a business is able to do the day after it changes hands.
We are happy to share what we look at, whether or not you end up working with us. Ask and we will send it across.
A firm that takes on every business that walks through the door is not being helpful. It is being indiscriminate. These are the things that end a conversation, and owners should know them upfront.
If reported revenue cannot be traced to a bank account and there is no willingness to move towards that, there is nothing to work with.
An unregistered scanner, a lapsed establishment registration or missing waste authorisation must be resolved before anything else is discussed.
Pending show cause notices or a history of de-empanelment change the risk completely. We would rather hear it from you than find it ourselves.
If an owner does not want a proper company structure, audited accounts or reporting, they do not want outside capital. They want a loan on a handshake.
Litigation, a prior charge, a tax dispute or a regulatory notice that surfaces in diligence rather than in conversation. The omission is the problem, not the issue itself.
Where the amount sought bears no relation to what the business can realistically repay or absorb, funding it does the owner no favours.
If the plan to raise revenue rests on treating each patient more rather than treating more patients better, we will not take it forward. This one is not negotiable.
We would rather say so at the first meeting than spend six months and a fee arriving at the same conclusion.
These are structural, not promises. They are the arrangements that make it difficult for things to go wrong quietly.
Funds move directly from the investor to the business. We do not operate a client account, and at no point does your capital pass through us.
Valuation for any share issuance is certified by a registered valuer or merchant banker, not decided by us and not by the parties.
Definitive agreements are drafted by qualified legal counsel for the specific transaction. We do not run deals on downloaded templates.
Where a transaction is secured, the charge is created and filed with the Registrar of Companies before funds are released, not afterwards.
Where the money is for an expansion, it is often released against milestones rather than in a single tranche, so capital is not sitting idle or misdirected.
We recommend each party takes its own legal and tax advice. Where a party has no adviser, we will say so rather than let it pass.
No pooling, no blind commitments, no common vehicle. Every transaction is assessed and decided on its own merits.
Representations made by a business during diligence are captured in the documentation, so they are enforceable rather than remembered.
You are told what we earn on a transaction and who pays it, before you commit to anything.
Our partners cover healthcare operations, investment structuring and chartered accountancy, so the bulk of the work is handled in house. We bring in specialists where a transaction calls for them. A few things must stay independent, and we will always tell you which.
You cannot assess advice without knowing how the person giving it is paid. So here it is, including the part that is uncomfortable for us.
We are paid more when a transaction closes than when it does not. That gives us a commercial interest in deals happening, and you should weigh what we tell you with that in mind.
Our answer to it is structural rather than a reassurance. We tell you what we earn, we present what we consider weak alongside what is strong, we encourage every party to take independent advice, and we would rather lose a fee than place a business with an investor it is wrong for. A single bad transaction costs us far more, in a market this small, than any fee is worth.
Realistic ranges, not best cases. Businesses that start further back take longer, and there is no way around it.
A business starting from an informal proprietorship should plan on nine to eighteen months before capital actually arrives. Anyone promising a faster route from that starting point is either skipping the work or not telling you the truth about it.
Both, and they are different exercises. We diligence the business as part of preparing it, and we share what we find, including the weaknesses. The investor then runs their own assessment on top of that, with their own advisers. Ours does not replace theirs, and no investor should treat it as if it does.
It depends what it is. Many issues are fixable. A lapsed licence, disorganised receivables, a missing agreement. Fixing them is part of the work. Some are not, or reveal that the owner was not straight with us, and then we stop. We do not carry a known problem quietly into a transaction.
No, and we want to be blunt about that. Diligence reduces the chance of an unpleasant surprise. It cannot make a business succeed, predict a clinician leaving, or prevent a market from turning. Every investment we are involved in carries the risk of loss, including total loss.
Yes, and you should. You are investing in a business run by a person, and you should meet them, visit the premises and form your own judgement. We facilitate that rather than sit between you.
It happens, and neither side owes the other a completed deal. For providers, the readiness work already done is not wasted. The structure, books and reporting remain permanent improvements to the business. For investors, nothing is committed until documentation is signed and you have decided to proceed.
Because an investor will ask for all of it, and it is far better to have answers ready than to be caught out mid-process. Everything we collect is used to prepare and present your business, and is shared only with parties you agree to.
We operate as an advisory and arranging business on a deal-by-deal basis. We do not manage pooled funds, hold client money or provide investment advice to investors, activities that carry their own licensing requirements in India. We take professional advice on where those boundaries sit and structure our work to stay clearly within them.
It is the difference between reading a P&L and understanding it. Knowing that a PCPNDT registration attaches to a specific machine, that bed occupancy is the number that predicts next year's revenue, that a de-empanelment notice can end a hospital's footfall overnight, or that a receivables problem is usually a claims process problem rather than a patient problem. A purely financial reviewer sees none of that.
If something here is unclear, or you want the diligence checklist before deciding whether to engage, just ask. We would rather answer questions early than have them surface late.