In 2016, TPG, a private firm which is known globally
announced that it had attained a majority stock in south Asia, especially India
in cancer treatment service for thirty three million and had a share of 65%.
What is CTSI?
It's a network that focuses on facilitating cancer
treatment in India. Dr Stanley marks was the co-founder and chairperson of UPMC
cancer centre and CTSI was cofounded by some leading industrialists and
physicians in 2006. The network has a very large reach in South Asia. There is
also an multi-specialist hospital, American oncology institute, set up in
Hyderabad for cancer treatment with facilities that are stat of the art. Many
cancer-related facilities are provided such as surgery, chemotherapy, radiation,
support services, etc.
Why the deal?
Due to the growth opportunity in terms of treatment,
care and other facilities in CTSI, TPG decided to invest in this network.
Cancer is a prominent issue in health care that has been garnering many
doctor's and patient's attention. The market for oncology is also improving at
a rate of 20% annually which was predicted to be around three thousand crores
by the end of this year.
TPG has done similar kind of investments in other
companies and hospitals as well which include retail sectors, entertainment
sectors, Uber, Redbook connect, Aisri hospital in Sri Lanka, Manipal health
Enterprise in India among many others.
As part of the merger, it was said that Dr Llyoyd
Nazareth would be appointed as CTSI's chief executive officer (CEO). He has an
experience of 20 years in healthcare sector in India and has also worked in
other hospital chains like Fortis, Wockhardt, etc.
Has this deal or will this deal help improve the
quality of cancer treatment in India? Hoping for the best, we sure know that
answer will only be answered as time goes by.
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