Healthcare-focused venture capital firm HealthQuad has successfully completed its exit from the Asian Institute of Nephrology and Urology (AINU), marking its fourth exit from its Fund-I portfolio. This exit is part of the majority acquisition of AINU by Asian Healthcare Holdings, a single-specialty healthcare investment and operating platform supported by TPG Growth and GIC. The total consideration for the acquisition amounts to ₹600 crore, resulting in HealthQuad achieving a 4x return on its investment.

In September of last year, Asian Healthcare Holdings announced its plan to invest ₹600 crore in AINU, employing a combination of primary and secondary infusion methods. This transaction was structured to provide Asian Healthcare Holdings with approximately 70% equity ownership in AINU.

HealthQuad's investment in AINU dates back to 2016, aimed at facilitating the establishment of a pan-India single-specialty hospital chain dedicated to addressing the supply gap within the nephrology and urology sectors. Over the years, AINU has expanded significantly from its initial flagship facility in Hyderabad to encompass seven facilities spread across Hyderabad, Chennai, Siliguri, and Vishakhapatnam, resulting in a fivefold increase in bed capacity.

Established in 2013 by a team of urologists and nephrologists led by Dr. C Mallikarjuna and Dr. P C Reddy, AINU currently operates 500 beds across its network. Dr. Pinak Shrikhande, Managing Director of HealthQuad, highlighted that the partnership had enhanced access to specialized healthcare services nationwide and expedited the adoption of advanced medical technologies. Dr. Mallikarjuna C, Chief Consultant Urologist and Managing Director at AINU, expressed satisfaction with the journey thus far, asserting AINU's position as a leading renal-sciences-focused single-specialty healthcare chain. Moving forward, he emphasized the continuation of this journey with Asian Healthcare Holdings.