British International Investment

Blue Sapphire Healthcare Private Limited

South AsiaConsumer - Health

The Asian Institute of Medical Services (Asian), is one of North India’s leading healthcare providers.

Established in 2010, Asian has grown rapidly to become a 775-bed hospital chain focused on bringing specialist facilities, including cardiology, oncology, critical care and orthopaedics, to underserved cities in Northern and Central India.

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

CDC invested into Asian to support the company’s growth.

Our capital will be used to fund the company’s continued expansion into Central India where the demand for healthcare is huge and the supply highly constrained.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

While quality healthcare has been adopted in many parts of India, hundreds of millions of people in Northern and Central India live in places with limited access to tertiary care, causing them to either miss out on treatment or travel many hours to gain access.

Our investment will increase access to high-quality care for underserved patients in some of India’s poorer cities. The company is looking to expand its capacity in existing sites; it will also open new hospitals in more northern Indian states such as Bihar, Uttar Pradesh and Jharkhand.

This expansion will also create around 2,000 new jobs and deliver training and improved skills for nursing and paramedic staff in these cities, delivered through outreach programs.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    :
    June 2024
    Project number

    An identifier number shared by investments in the same project.

    :
    D2659
    Status

    The current status of the investment (green flag for active and red flag for exited).

    :
    Active
    Region

    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    :
    South Asia
    Country

    The countries where the investment delivers impact. Where impact is delivered in multiple countries, this is indicated.

    :
    India
    Sector

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    :
    Consumer - Health

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Equity
    Start date :
    November 2017
    Amount :
    $21.32m
    Currency of investment :
    INR
    Domicile

    The company or investment fund’s place of incorporation.

    :
    India

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