Singapore’s GIC Invests in Vasan Health Care
The Government of Singapore Investment Corp (GIC) invested US$100 million in Vasan Health Care Pvt. Ltd through an affiliate. The investment was for a minority stake. Singapore’s GIC will get a board seat. Vasan Health Care is based in India and the funds will be used to expand eye care hospitals, dental treatment centers, and be used as an acquisition tool. This is not the GIC’s first healthcare investment in India. GIC has exposure to India’s Fortis Healthcare.
In 2009, Vasan Health Care raised about US$ 22 million from Westbridge Capital and Sequoia Capital.
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