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Healthcare-focused private equity firm Somerset Indus Capital Partners is aiming to exit four more companies from the first fund it launched more than eight years ago.

Somerset partner Ramesh Kannan told VCCircle that the firm expects to exit companies, including Hexagon Nutrition (clinical nutrition products firm) and Prognosis Medical Systems (medical imaging and telehealth products and solutions company). The other two are Browndove Healthcare (medical devices maker) and Ujala Cygnus (hospital chain earlier known as Cygnus Hospital). “Hexagon, Prognosis and Browndove are already attracting strategic interest," he added.

The private equity firm has a history of successful partial and full exits. It partially exited Krsnaa Diagnostics via an initial public offering (IPO) earlier this month. Similarly, it partially exited Cygnus Hospitals in January 2020 when Hindi daily Amar Ujala picked up a majority stake and rebranded the north-based company to Ujala Cygnus.

Somerset also fully exited Sandor Medicaids in 2016 via a secondary deal.

Now, the investor is on the verge of closing its second fund that drew investor commitment last year from the government-backed National Investment and Infrastructure Fund’s fund of funds.

“Currently, we have exceeded the $75 million mark for the fund and we should get to the $80 million target soon," Kannan said.

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