Artemis, a leading healthcare provider, has announced a significant milestone in its expansion journey by securing funds amounting to Rs 3,300 million. The company aims to utilize these funds to bolster its growth plans, including increasing bed capacity, introducing advanced specialty services, and enhancing patient care within the Delhi NCR region.

In collaboration with the International Finance Corporation (IFC), a member of the World Bank Group, Artemis has finalized definitive agreements to raise funds in the form of Compulsorily Convertible Debentures (CCDs). This strategic partnership with IFC underscores Artemis's commitment to advancing healthcare accessibility and quality in the region.

Currently operating a total of 713 beds primarily in Delhi NCR, Artemis boasts a 541-bed quaternary care super specialty hospital accredited by renowned bodies like the Joint Commission International and the National Accreditation Board of Hospitals and Healthcare Providers. Additionally, the company oversees five hospitals under the Artemis Lite and Daffodils brands, along with seven centers under the Artemis Cardiac Care brand in partnership with Philips.

Artemis envisions expanding its bed capacity, introducing cutting-edge specialty services, and enhancing patient care to address demand-supply gaps effectively and fortify its presence in Delhi NCR. Leveraging both brownfield and greenfield opportunities, the company is poised to accelerate growth and extend its services across diverse segments of society in the forthcoming years.

IFC's investment will play a pivotal role in facilitating Artemis's growth objectives, particularly in enhancing healthcare accessibility and quality. The funds will support initiatives aimed at expanding bed capacity, introducing new medical treatment specialties, and establishing cardiac care centers in tier 2 and 3 cities. Furthermore, the investment aims to stimulate job creation and professional development within the medical sector, with a special emphasis on empowering women professionals, thereby catalyzing a broader shift towards more affordable and high-quality healthcare solutions where they are most needed.

The transaction is subject to approval from Artemis's shareholders, in-principle approval from stock exchanges, and the fulfillment of customary closing conditions. KPMG served as the exclusive financial advisor, while Khaitan & Co provided legal counsel to Artemis throughout the transaction.

This funding initiative marks a significant step forward in Artemis's mission to revolutionize healthcare delivery and make a lasting impact on the well-being of communities across the Delhi NCR region.