HealthQuad achieves 4x return after exiting Asian Institute of Nephrology and Urology

Healthcare-focused venture capital fund HealthQuad has exited the Asian Institute of Nephrology and Urology (AINU), achieving a fourfold return on its investment. 

The exit is notable as it represents the fourth successful exit from HealthQuad's inaugural fund, which was established in 2016 with a corpus of Rs 75 crore. 

The exit came as part of the acquisition of AINU by Asian Healthcare Holdings, a single-speciality healthcare platform backed by TPG Growth and GIC, for Rs 600 crore last year.

AINU's footprint in the Indian market 

AINU has expanded its footprint across India, growing from a single facility in Hyderabad to seven hospitals in cities including Chennai, Siliguri, and Visakhapatnam. The expansion not only increased AINU's bed capacity fivefold but also boosted patient volume by 200%.

AINU, which was founded in 2013 by Dr C Mallikarjuna and Dr P C Reddy, provides comprehensive clinical services in urology and nephrology. It claims to have served over 400,000 patients and completed 50,000 procedures.

HealthQuad's growing portfolio 

With the successful exit from AINU, HealthQuad continues to manage its second fund, valued at $162 million, which is about 65-70% deployed across 12 investments.

The firm is actively seeking to raise a third fund with a target of $300 million, focusing on a broad spectrum of healthcare sectors, including cell and gene therapy, vaccines, and medical equipment, among others.

HealthQuad's contributions in AINU

HealthQuad first invested in AINU in 2016 and has helped build a pan-India single-speciality hospital chain. The firm has also supported the adoption of cutting-edge technologies and improved access to specialized healthcare in India. It claims to have performed over 1,000 robotic urology surgeries and more than 200,000 dialyses.