The Everstone Group Names Alok Oberoi as Executive Chairman

Mumbai/Singapore, November 27, 2019 – The Everstone Group, India and South East Asia’s premier Private Equity and Real Estate investor, has named Alok Oberoi as Executive Chairman effective January 1, 2020.

Alok spent over 14 years at Goldman Sachs where he was named as a General Partner in 1996. Amongst many businesses, Alok led Goldman Sachs’ Wealth Management business in Asia and subsequently also ran it Internationally. Post Goldman Sachs, Alok was the Co-Founder and Chairman of ACPI, a multi-family office and wealth management business based in London which he has since exited. Alok has also been a shareholder of Everstone since its inception and has served as a Director as well as an active member of its various Investment Committees. Alok has a Master’s degree in Business Administration as well as a Bachelor’s degree from Cornell University.

In his new role as Executive Chairman, Alok will work very closely with Sameer Sain, Co-Founder & CEO of The Everstone Group. He will drive the Group’s overall strategy and governance as well as bring his vast network and investment experience to bear on investments and exits across asset classes and geographies. He will continue to serve on the investment committees and in order to fulfil his new role and responsibilities, he will also relocate to Singapore.

Commenting on the appointment, Sameer Sain, Co-Founder & CEO, The Everstone Group said: “On behalf of my Co-Founder Atul Kapur and the partners of Everstone, I am delighted that Alok is transitioning from a non-executive to a full-time executive and leadership role. I have had the privilege of knowing him and working with him at Goldman Sachs as well as Everstone for over 25 years. We are proud to have him as our Executive Chairman and look forward to a great journey ahead.”

Alok Oberoi, Executive Chairman, The Everstone Group added: “I have been actively associated with Everstone since it’s very inception and so this new role seems like a natural progression. I am excited to work with Sameer, Atul and the rest of my Everstone family and look forward to building on the exceptional business they have already created.”

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), Mauritius, London and New York, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
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Everstone Capital makes another senior hire

Mumbai, October 04, 2019 –Everstone Capital today announced the appointment of Vibhor Kumar Talreja as a Managing Director. He will lead the financial services sector amongst other responsibilities.

Prior to joining Everstone, Vibhor was with Temasek India for over 12 years. As a Director at Temasek, he led decision making on investments & divestments of over $2 billion each across both private & public transactions. Amongst other sectors, Vibhor has actively covered Financial Services, Industrials/Consumer, Real Estate & Telecom. He has also worked with renowned global and Indian companies such as JM Morgan Stanley and Tata Administrative Services.

Vibhor is an alumnus of IIT Kanpur & IIM Bangalore and will be based in Mumbai.

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), Mauritius, London and New York, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
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Everstone-backed Everlife appoints Raman Gandotra as Chief Executive Officer

Singapore/Mumbai, September 11, 2019 – Everlife Holdings Pte. Ltd. (Everlife), a leading distributor and manufacturer of medical and laboratory equipment and devices in Asia—announced today the appointment of Raman Gandotra as its new CEO. Based out of Singapore, Raman will lead the platform through its next stage of growth which will focus on continuing to deliver superior performance for its principals, further strengthening the company’s position in core markets and priority segments through acquisitions and realising synergies across our portfolio of companies.

Raman brings with him over 25 years of experience, with a proven track record in building effective teams and driving growth for leading industry players in the pharmaceutical and medical devices sectors.

Prior to joining Everlife, Raman was leading the India and South-East Asia business of Smith & Nephew, a global leader in surgical equipment, orthopaedics and wound care. Raman and his team built strong growth, sustainably gaining shares across businesses in five years while increasing margins. He led disciplined customer segmentation and targeting, driving operational excellence initiatives across countries, creating effective engagement strategies with distribution partners and continuing to introduce innovative products that improve healthcare outcomes for patients. Prior to Smith & Nephew, Raman held leadership roles in India and South-East Asia at Baxter and Allergan.

“Raman is very well-positioned to take the helm of Everlife, given his experience, skills and his action-oriented leadership style. The Board and I have strong confidence in his ability to identify and deliver on opportunities to drive growth, strengthen our operational cadence and cement our position in the region as a leader in our space.” said Arjun Oberoi, Vice Chairman of the Board, Everlife and Managing Director, Everstone Capital.

“I am excited to join Everlife at this pivotal point in the company’s evolution. Everlife has already emerged as a leader in the laboratory, medical equipment and devices space in Asia. I look forward to leading the next phase of Everlife’s journey through its expansion in new geographies and product segments and adopting new tools and technologies to bring superior value to our customers.” said Raman Gandotra on joining the Everlife team.

Everlife has investments in CPC Diagnostics, an India based manufacturer and marketer of in-vitro diagnostic products; Malaysia-based Chemopharm Group, a leading provider of products and solutions to laboratory, research and medical facilities in South-East Asia; DV Medika Group, manufacturer and distributor of one of Indonesia’s top brands of hospital furniture and other imported medical equipment and supplies; and Singapore-based Bio-REV Pte. Ltd., which specializes in distribution of reagents, media and consumables to the Life Sciences industry.

About Everlife Holdings Pte Ltd
Everlife Holdings Pte. Ltd. is a buy-and-build platform aimed to provide complete solutions for the healthcare and research industries in South East Asia and India. As part of the Everstone Group, Everlife invests in manufacturers and distributors in the region covering key strategic segments including in-vitro diagnostics, medical diagnostics, critical care equipment, implants and consumables. Cure Capital is a minority investor in Everlife. Everlife’s portfolio companies represent more than 200 principals and its more than 600 employees operate in seven countries. For more information, visit www.everlifeasia.com.
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About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
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Everstone Group makes significant investment in Translumina

Mumbai, August 27, 2019 – The Everstone Group has made a significant investment to acquire a stake in Translumina. The proceeds from the investment will help Translumina accelerate the company’s growth and scale its operations globally.

Founded in Hechingen, Germany, Translumina is a leading global manufacturer and distributor of cardiac stents and cardiovascular medical devices. Translumina’s technologies were developed in collaboration with the German Heart Centre and are endorsed by the European Society of Cardiology. Translumina combines the best of German technology, intellectual property and high-quality standards with Indian capabilities of manufacturing innovative products at affordable prices.

Translumina benefits from end-to-end development and manufacturing capabilities of stent delivery systems in India and Germany. The company distributes its products in over 30 countries across Europe, Asia, Latin America and Middle East. Everstone’s partnership will help the Company to acquire global assets, augment the company’s research and development efforts, bolster its India manufacturing capabilities and enhance Translumina’s distribution ecosystem.

“We are excited to partner with Everstone group who possess the best expertise in the market today to guide young companies to become large multinationals. Everstone’s sectoral and international experience will help Translumina achieve its’ global ambition by strengthening our organization and systems while retaining our agility and entrepreneurial spirit to create strong footprints in healthcare market” said Gurmit Singh Chugh, Chairman of Translumina.

“Translumina is extremely well positioned to emerge as a global leader in stents and cardiovascular technologies at highly affordable prices. Everstone’s expertise in healthcare will help unlock the company’s full potential by scaling manufacturing, strengthening its global distribution and driving new product development” said Arjun Oberoi, Managing Director, Everstone Group.

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com

About Translumina
Translumina is a global developer and manufacturer of innovative cardiovascular medical devices used in interventional cardiology and minimally invasive surgery. It’s flagship products, YUKON® Choice PC, YUKON® Choice Flex, YUKON® Chrome PC and VIVO ESAR represent the 3rd generation drug eluting stents systems. Translumina is the only company in the world that has published 10-year safety and efficacy data for its Yukon Choice PC stent in a head-to-head study against Xience, a market-leading stent from Abbott, as per the ISAR-TEST 4 study presented at the 2018 American Heart Association meeting. In addition, the company markets a wide range of cardiovascular devices including coronary angioplasty balloons, structural heart disease products and cardiac assist devices. For more information, visit www.translumina.in and www.translumina.de
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Everstone Group bolsters its US presence

Mumbai, April 24, 2019 – The Everstone Group is pleased to announce the appointment of Suneel Kaji as a Managing Director in New York. He will work on developing strategic relationships with large institutional investors, sponsors, corporates and service providers. This will enhance the firm’s private markets business in India and Southeast Asia through stronger investor connects, building an eco-system for cross-border expansions and exit options for portfolio companies.

Suneel Kaji joins Everstone from University of Texas Investment Management Company (“UTIMCO”), where he was a senior member of their private investments team. Kaji has over two decades of private markets experience in control and structured investing across the US and Asia.

“We continue to strengthen our team with leaders who have deep experience across asset classes and geographies. Suneel brings a wealth of international investing and banking experience and will add tremendous value to the group.” said Sameer Sain, CEO, The Everstone Group

“Everstone is a leading investor with deep operational ability to successfully build and grow diversified businesses. I am excited to join the team and contribute to Everstone’s growth and success.” said Suneel Kaji, Managing Director, Everstone Capital.

Prior to UTIMCO, Kaji had been a Founding Partner of Accordion Capital, the principal co-investment affiliate of Accordion Partners, a New York-based private equity consultancy. He previously worked with the private equity teams at DLJ in New York and Hong Kong and at Goldman Sachs in New York. Kaji started his career in investment banking at Salomon Brothers in M&A and Leveraged Finance. He received his MBA from the Stanford Graduate School of Business, and his Bachelor of Science in Economics, magna cum laude, from the Wharton School of the University of Pennsylvania.

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
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Everstone Group to acquire controlling stake in Sahyadri Hospitals

Mumbai, April 07, 2019 – The Everstone Group(Everstone), has signed an agreement to acquire a controlling stake in Sahyadri Hospitals Limited(Sahyadri), the largest hospital chain in Maharashtra. The combination of primary and secondary capital outlay is expected to increase the bed-count significantly in next five years.

Founded in 1994, Pune headquartered Sahyadri Hospitals currently operates 5 tertiary care and 3 secondary care hospitals with 750 beds across Pune (Deccan Gymkhana, Nagar Road, Kothrud, Bibwewadi, Kasba Peth and Hadapsar), Nashik and Karad areas. Sahyadri has more than 1000 clinicians along with 2300 supporting staff providing latest medical services.

Sameer Sain, CEO, Everstone Group, said, “Sahyadri Hospitals is a reputed name for quality healthcare and will act as the anchor asset of our healthcare delivery platform. Everstone will leverage its’ significant healthcare expertise and experience to grow the overall business. We look forward to working closely with our partners and stakeholders.”

Commenting on the investment, Dr. Charudutt Apte, Founder, Chairman and MD, Sahyadri Hospitals said, “We are excited about this partnership and the value Everstone Group brings. Sahyadri Hospitals looks forward to the next phase of growth with the support of the experienced team at Everstone.”

According to industry estimates, private secondary and tertiary healthcare delivery in India is expected to grow from USD 42 bn in 2018 to USD 65 bn by 2022 at a CAGR of ~12%. This investment will help Sahyadri to cement its position as the leading healthcare chain in Maharashtra.

Everstone is one of the largest India and South East Asia focused healthcare investor specializing in rolling up assets within their platforms. In 2015, Everstone successfully exited Global Hospitals, a large multi-specialty tertiary hospital chain, generating strong returns. Everstone’s healthcare portfolio includes controlling stakes in domestic pharma distribution platform, Ascent Health; South East Asia based diagnostic device platform Everlife and an investment in one of the largest nutraceutical ingredient business, OmniActive. Everstone recently announced its successful exit from Rubicon Research (Rubicon) generating returns of 4.5x.

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
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About Sahyadri Hospitals
Sahyadri Hospitals is the largest chain of hospitals in Maharashtra with 8 hospitals across three cities of Pune, Nashik and Karad. The hospital chain has over 900 Beds, 1,200 Clinicians and 2,300 Support Staff providing round the clock healthcare.
To know more: www.sahyadrihospital.com

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Everstone to sell controlling stake in Rubicon Research

Mumbai, April 04, 2019 –Everstone Group’s Singapore fund, will sell its entire stake in Rubicon Research (Rubicon) to a global private equity player, generating 4.5x multiple and a 92% IRR in a span of two and a half years. This would be one of the best returns generated in the pharmaceutical industry.

Founded by Pratibha Pilgaonkar, Rubicon is a specialty generics pharmaceutical product development company engaged in research, development and manufacturing of branded and specialty generic
products, and OTC products. Everstone’s Singapore fund had acquired a controlling stake in Rubicon and along with co-investor Mankekars, bought out Kotak Private Equity and other shareholders and also invested primary capital in the company.

Backed by robust business performance, Rubicon has grown its’ profits by over 5x in a short span of two and a half years, through multiple product approval and launches. Led by Dr Arjun Oberoi and Puncham Mukim, both Managing Directors and Board Members of Rubicon, the Everstone team worked closely with the promoters on their overall strategy, helping them on molecule identification and scaling their manufacturing network. Everstone, through their global network, also brought in external expertise of David Silver, a US pharma industry veteran, to help the company in market feasibility studies.

Parag Sancheti, Director, Rubicon Research Pvt. Ltd. said, “Thanks to common friends and relationships, we were introduced to Sameer Sain and Atul Kapur and were fortunate to have them believe in us and back us at such an early stage. I would like to thank the Everstone team for the large amount of resources and support they provided us that enabled us to transform and grow. I look forward to our continued association with them.”

Sameer Sain, Co-Founder and CEO, Everstone Group, said, “This is a great example of how a strong relationship and true team work between internal and external stakeholders can produce exceptional outcomes. Parag and his family have been outstanding partners and I wish them well as they embark on their journey from a regional company to a global player.”

This is yet another successful exit for Everstone managed funds in the healthcare space after their exit from Global Hospitals – sold to IHH in 2015 generating over 3x returns. Everstone is one of the largest healthcare investors in the country and specializes in rolling up assets within their platforms with a controlling stake in domestic pharma distribution platform, Ascent Health, South East Asia based diagnostic device platform Everlife and is also an investor in OmniActive, one of the largest nutraceutical ingredient business founded by Sanjay Mariwala.

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
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Modern Food Enterprises relaunches iconic brand in Lucknow with enhanced portfolio

Lucknow, 25 Mar 2019: Modern Food Enterprises Pvt. Ltd. (MFEL) has today relaunched its iconic Modern brand with new brand positioning; brand identity; fresh, vibrant and contemporary packaging; and an enhanced portfolio of superior and healthier products in Lucknow.

The new Modern range will also be available across other key markets such as Kanpur, Barabanki, Ayodhya, Basti, Shahjahanpur, Sitapur, Lakhimpur, Gola Gokarannath, Palia, Prayagraj, Balrampur,
among others. Modern has a significant market share with around 2,400 retail outlets present in Lucknow and neighboring areas. The company plans to scale up its retail presence to over 3,200 outlets in and around Lucknow in the next one year.

Lucknow has a growing cosmopolitan population, which is today more health-conscious than ever before. Modern Food sees strong potential in the health and wellness breads category and as a leading industry player, it will spearhead the development of this segment.

Aseem Soni, Chief Executive Officer & Board Member, Modern Food, said, “We are thrilled to bring back the iconic Modern Brand with new offerings for the people of Lucknow and neighboring markets. So far, we have received an excellent response since our relaunch, reflected by volume increases in the markets where we have launched the new product range.”

“Our R&D team has given us an advanced portfolio of superior health and wellness products, which will provide impetus to our growth in the number of outlets in this market.” Soni further added.

The new portfolio features products such as Milk Plus bread enriched with calcium; Hi-Fibre Brown bread reinforced with premium wheat fibre; 100% whole-wheat bread; and new innovations such as
Multigrain Superseed Bread which not only has superseed sprinkles on top but even the flour is made of seven grains and contains Omega 3. All these products will be available in Lucknow market, giving the consumers a greater variety of tasty and healthier eating and snacking options.

Modern, has a legacy of over five decades and is the pioneer of the organized bread sector in India. The Everstone Group, a premier India and Southeast Asia multi-asset investment firm, acquired Modern Food from Hindustan Unilever Ltd. on April 1, 2016. Since then, Modern’s relaunch has been crafted with intensive effort and significant investments in manufacturing, as well as R&D at Modern’s innovation hub in Chennai, coupled with thorough efforts on consumer insights, strategy, and design.

About Modern Food Enterprises Pvt. Ltd
Established in 1965 by the Government of India, Modern was the first branded bread in India. In the following decades, Modern became one of India’s best recognized brands with a full range of white, sweet, health and wellness breads, as well as value-added bakery products such as rusks, cakes, muffins, buns, pavs and cream rolls. Modern Food’s bread and bakery products are manufactured and marketed nationally through a network of over 40 manufacturing plants and more than 80,000 outlets. In its new avatar, Modern wants its customers to ‘Thrive, and savour life to the fullest’ by helping them make smarter choices from its expanded range of healthy, nutritious and tasty bread and bakery products.

Visit www.modernfoods.co.in for more information.

About the Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its 7 offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com.
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Everstone-backed Everlife invests in Chennai based CPC Diagnostics

Mumbai, March 13, 2019 – The Everstone Group via its healthcare platform Everlife has acquired a stake in Chennai based CPC Diagnostics, to include core in-vitro diagnostics (IVD) segments in its portfolio of medical devices and extend its geographical presence to India, with this first investment in the country.

Founded in 1987, CPC Diagnostics (“CPC”) is a medical devices manufacturer and distributor with presence across India, Sri Lanka and Bangladesh, and exports to countries in Middle East and Europe. It supplies a wide range of products and services to research and clinical laboratories. With this strategic investment, Everlife plans to support CPC’s manufacturing and distribution capabilities within India and South-East Asia, to become the leading IVD distributor in India.

Dr. Arjun Oberoi, Vice Chairman, Everlife and Managing Director, Everstone Capital stated: “We are delighted to invest in CPC Diagnostics and help scale up its presence across the diagnostics sector. Its strong manufacturing and R&D capabilities make them an ideal partner for us and we will help them expand in markets beyond India. Everlife can also leverage on CPC to grow its value segment range of products, to cater to the growing demand of quality medical devices within emerging markets.”

Commenting on the investment, R. Kailasnath, Managing Director, CPC Diagnostics said: “We are excited about this partnership and look forward to work closely with Everlife’s leadership. Everlife is creating a pan South Asian and South-East Asian distribution and manufacturing platform for IVD and other laboratory/medical device segments and we are looking forward to contributing to this objective.”

The in-vitro diagnostics (IVD) segment is one of the largest within the medical devices market. CPC’s portfolio already overlaps with IVD’s biggest segments, namely the immunoassay, bio-chemistry and haematology segments. The investment would allow CPC to consolidate their position in these core segments while expanding territorial reach.

Everlife also has investments in Malaysia-based Chemopharm Group, a leading provider of products and solutions to laboratory, research and medical facilities in South-East Asia; DV Medika Group, manufacturer and distributor of one of Indonesia’s top brands of hospital furniture and other imported medical equipment and supplies; and Singapore-based Bio-REV Pte. Ltd., which specializes in distribution of reagents, media and consumables to the Life Sciences industry.

About Everlife
Everlife Asia is a buy-and-build platform aimed to provide complete solutions for the healthcare and research industries in South East Asia and India. As part of the Everstone Group, Everlife invests in manufacturers and distributors in the region covering key strategic segments including in-vitro diagnostics, medical diagnostics, critical care equipment, implants and consumables. Cure Capital is a minority investor in Everlife. Everlife’s portfolio companies represent more than 200 principals and its more than 600 employees operate in 7 countries. For more information, visit www.everlifeasia.com.
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About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com
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About CPC Diagnostics
CPC is a Chennai based manufacturer and marketer of in-vitro diagnostic products. CPC has three decades of experience in the industry and is well known for its pioneering efforts in introduction of new products and technologies. With dedicated marketing sales and service teams, CPC operates in India, Sri Lanka and Bangladesh. For more information please visit www.cpcdiagnostics.in

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