Trilegal, Argus Partners & AZB & Partners advised on Novo Holdings’ acquisition of a significant stake in Surya Hospitals.

Surya Hospitals is the largest private women’s and children’s specialty hospital chain in Western India. Established in 1984, the group operates specialty hospitals across Mumbai, Pune, and Jaipur, offering comprehensive services in obstetrics and gynaecology, neonatal and paediatric intensive care, fertility, and paediatric sub-specialties.

Novo Holdings’ investment will support Surya Hospitals’ next phase of growth, including the expansion of its footprint across Western India, continued buildup of the clinical infrastructure, and the strengthening of its specialist medical teams. The partnership brings together Surya’s well-established clinical leadership with Novo Holdings’ long-term, engaged ownership approach and connectivity across a global healthcare ecosystem.

Trilegal advised Novo Holdings A/S on its acquisition of a significant minority stake in Surya Hospitals. The Trilegal Corporate Team was led by Partners Abhishek Guha and Tanya U., with support from Associate Vijay Kumar Chawla.

Argus Partners acted for Surya Hospitals and its promoter Dr. Bhupendra Avasthi on the transaction, which included Novo Holdings’ primary investment and a secondary sale of shares held by Sealink Capital Partners, resulting in Sealink’s full exit.

The Argus Partners deal team comprised Managing Partner Krishnava Dutt, Partners Abhinav Bhalaik and Aayush Kumar, and Associates Paridhi Rastogi and Anoushka Goel. The due diligence team included Partner Aayush Kumar and Associates Paridhi Rastogi, Vishakha Somani, and Anoushka Goel.

AZB & Partners advised Sealink Capital Partners on the sale of its entire stake in Surya Hospitals to Novo Holdings.

The AZB deal team comprised Partner Vasudha Asher, Senior Associate Vyoma Mehta, and Associate Ria Doshi, with support from Associate Shraddha Sethia, and was guided by Senior Partner Vaidhyanadhan Iyer.