Goldman Sachs to invest in Nova Medical Centers

Nova Medical Centers has secured an equity investment of $54 million from Goldman Sachs and New Enterprise Associates (NEA). On its part, Goldman Sachs will invest $40 million. NEA had earlier invested $15 million in Nova. Nova Medical Centers said the investments will be used to further expand the company's specialty surgery and fertility businesses.Established in 2009, Nova operates day/short-stay surgical centers in partnership with surgeons across India and the Middle East. Nova was co-founded by Dr. Mahesh Reddy and the GTI Group.Suresh Soni, Chairman and CEO, Nova Medical Centers, said, "This investment from Goldman Sachs and NEA will accelerate the expansion of Nova's footprint across the country both organically as well as through acquisitions." Ankur Sahu, Co-Head of private equity in Asia at Goldman Sachs, said, "This investment is consistent with our strategy to partner with experienced management teams and owners to build high quality businesses of scale in under-served sectors critical to India's growth." Ankur Sahu and Harsh Nanda, Executive Director at Goldman Sachs, will join the Board of Nova.