Private Equity (PE) companies, Baring Private Equity Asia (BPEA) and KKR have come up as forerunners for a controlling share in the healthcare company, Citius Tech Inc, according to a media report.
If the deal breaks, then the new investor would be possessing 80 per cent shares in the company, people familiar with the matter told the daily news, The Economic Times.
With this transaction, the company will be valued $1 billion. CitiusTech was initiated by tech businessmen, Jagdish Moorjani and Rizwan Koita in 2005, along with their IIT alumnus Bimal Naik.
Two other bidding groups are Goldman Sachs together with New Mountain, and homegrown ChrysCapital along with Canadian fund Ontario Teachers Pension Plan, the report said, adding that a final decision is expected later this week, a media report said.
Earlier on, companies namely, GIC Pte. Ltd, Bain Capital, CVC Capital Partners, Apax Partners, ChrysCapital and Blackstone had shown interest in CitiusTech. In 2014, the private equity firm, General Atlantic had bought shares in CitiusTech for an unknown amount.
CitiusTech offers solutions and services related to healthcare industry--healthcare software development, regulatory compliance, consumer engagement, care coordination and population health management, to name a few.