General Atlantic to acquire majority stake in hospital chain Ujala Cygnus

Ujala Cygnus was formed in November 2019 through the merger of Ujala Health Care and Cygnus Medicare, with Ujala Health Care being a part of the Amar Ujala Group.

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26 Aug, 2025 12:21

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Global growth investor General Atlantic will acquire a majority stake in hospital chain Ujala Cygnus, according to a joint statement to the media.

Ujala Cygnus is a leading healthcare provider in Northern India with a network of 21 hospitals serving tier 2 and 3 cities.

As part of the agreement, the company’s early investors—Eight Roads Ventures, Somerset Indus Capital and Evolvence Capital—made a full exit, according to the statement.

Funds from General Atlantic will be used to upgrade clinical and infrastructure capabilities across Ujala Cygnus' network, as well as to enhance comprehensive care offerings in key specialties. Additionally, the investment will facilitate the expansion of Ujala Cygnus' network across Northern India, furthering its mission to improve healthcare access in underserved regions, according the statement.

Under its unique asset-light model, Ujala Cygnus establishes long-term partnerships with hospitals, enabling the expansion of its reach. “Since 2018, Ujala Cygnus has expanded its hospital network from nine to 21 facilities across 17 cities in five states, increasing bed capacity from 1,000 to over 2,500 beds. With a commitment to further extend its impact in underserved markets, Ujala Cygnus aims to pursue both organic and inorganic growth strategies, including collaborations with local hospitals through leasing and revenue-sharing models,” Ujala Cygnus chairman and managing director  Probal Ghosal said in the release.

The hospital chain was founded in 2011. Ujala Cygnus was formed in November 2019 through the merger of Ujala Health Care, part of the Amar Ujala Group, and Cygnus Medicare.

In the media release, Shuchin Bajaj, founder-director, Ujala Cygnus, said, “With General Atlantic’s support, we look forward to the expansion of our platform and welcome more healthcare practitioners to join this transformative movement and the Ujala Cygnus mission.”

It added that General Atlantic will play an active role in supporting the company with its expansion plans, leveraging its value- add capabilities and expertise in thoughtfully scaling healthcare platforms.

“Ujala Cygnus is committed to improving patient experience and outcomes through a longitudinal care approach that is also cost effective. We look forward to partnering with Ujala Cygnus to extend its reach across Northern India,” Varun Talukdar, principal and head of India healthcare at General Atlantic, was quoted as saying in the media handout.

In addition to the investment from General Atlantic, Ujala Cygnus recently secured term loan facilities from Asian Development Bank, signifying further commitment and validation of its model from global development agencies. EY India was the sole financial advisor for Ujala Cygnus for this transaction.

General Atlantic, with over four decades of experience, has provided capital and strategic support to over 500 growth companies. Its investments in India in the sector include Rubicon Research, ASG Eyecare and the Hyderabad-based KIMS Hospitals.

Also read: India a main force in Asian Healthcare deal activity: Bain & Co