Norwest Venture Partners has announced its acquisition of a Rs. 450 crore stake in Regency Healthcare, a Kanpur-based healthcare company. This strategic investment is set to transform Regency Healthcare's infrastructure and services, benefiting the people of Uttar Pradesh.

Abhishek Kapoor, CEO of Regency Health, expressed enthusiasm about the partnership and its potential to enhance healthcare services in the state. Norwest Venture Partners, with the backing of US banking major Wells Fargo and managing $12.5 billion in assets, sees this collaboration as an opportunity to support a healthcare company in Uttar Pradesh.

Shiv Chaudhary, Managing Director of Norwest India, emphasized the significant impact of investments in Uttar Pradesh's growing economy and their commitment to redefining healthcare standards, Economic Times reported.

As part of the transaction, Regency's existing investors, International Finance Corporation and HealthQuad, will be exiting their investments, having initially invested Rs. 102 crore in the company in 2017. They will exit with their investments having tripled in value.

Charles-Antoine Janssen, Managing Partner of HealthQuad, noted their pride in contributing to Regency's growth while achieving their objectives of generating financial returns and making a transformative impact.

O3 Capital served as Regency Healthcare's exclusive financial advisors in the transaction, with DSK Legal as their legal advisors. Shardul Amarchand Mangaldas advised Norwest on the deal.

Regency Healthcare, founded by medical doctor Atul Kapoor, operates hospitals with 700 beds in Kanpur and Lucknow, with additional facilities under construction. The company has a joint venture with Germany's Fresenius Medical Care to manage dialysis clinics for end-stage kidney disease patients.