Artemis Medicare Services has signed definitive agreements with International Finance Corporation (IFC), a member of the World Bank Group, to raise funds of Rs 330 crore in the form of Compulsorily Convertible Debentures (CCDs).

Artemis operates a total of 713 beds predominantly in the Delhi NCR region, including a 541-bed quaternary care, super speciality hospital accredited by Joint Commission International and National Accreditation Board of Hospitals and Healthcare Providers and five hospitals under the Artemis Lite and Daffodils brands. Additionally, the Company runs seven centres under the Artemis Cardiac Care brand under a Joint Venture with Philips. Artemis has 30% representation of women in its board including its Managing Director, Dr Devlina Chakravarty.

The Company aims to increase bed capacity, introduce advanced speciality services, and enhance patient care to bridge demand-supply gaps and bolster its presence in Delhi NCR. Leveraging brownfield and greenfield opportunities, it aims to expedite growth and extend services to all sections of society in the coming years.

IFC's investment will help the Company improve healthcare accessibility and quality by supporting its growth plans in bed capacity, introducing newer medical treatment specialities, and establishing cardiac care centers in Tier 2 and 3 cities. It aims to foster job creation and professional development in the medical field, particularly among women, driving a sector-wide shift towards more affordable and high-quality healthcare solutions in areas they are needed most.

The transaction is subject to the approval of Artemis's shareholders, in-principle approval from stock exchanges and fulfilment of customary closing conditions