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Matrix Partners invests INR 45 crores in cloudnine

Bangalore, India – August 10, 2011 Matrix Partners India today announced that it has invested INR 45 crores as the sole investor in the first institutional round of funding for Kids Clinic India Private Limited; a leading provider of high quality maternity and infant care under the brand name of “cloudnine”. It has the distinction of delivering more than 6000 babies in Bangalore since its inception in 2007 with global best in class morbidity and mortality outcomes. Apart from maternal care, cloudnine also ranks as the premiere institute for gynecology and neonatal care services. Cloudnine has also pioneered the concept of “celebrating” motherhood rather than “treating” it by introducing several innovations in which the mother and newborn are treated as “guests” rather than “patients”. “India has lagged behind global standards in quality maternal and infant care. To address this gap, we introduced the concept of “celebrating” motherhood, while maintaining high standards of health outcomes, with our “cloudnine” and “Sure Fertility” brands. This capital infusion provides Kids the growth capital for expansion and we believe that Matrix is the right partner for us during the growth phase given their strong understanding of the Healthcare services sector.” said R. Kishore Kumar, Managing Director and co–founder, Kids Clinic India Private Limited. "It is our privilege to be associated with the team at Kids, in particular Dr. R. Kishore Kumar who is a true visionary and has done pioneering work in mother and child care across the globe. Specialty healthcare services are an important focus area for Matrix as they satisfy a growing demand for Indian consumers whose disposable incomes and awareness of quality care are on the rise, and we believe cloudnine and Sure Fertility can capture a large share of the growing demand for quality maternity and infant care in India” said Avnish Bajaj, co–founder & Managing Director, Matrix India. Immediate expansion plans for Kids include increasing its footprint in the city of Bangalore with new facilities in Jayanagar, Malleshwaram and Old Airport Road along with an expansion to other metros. About Kids Clinic India Private Limited: Kids Clinic India Private Limited is a leading provider of maternity and infant care under the brand name of “cloudnine”. Currently based in Bangalore across two facilities in Jayanagar and J.P. Nagar, the company soon plans to expand its footprint in Bangalore and other metros. Over four years since inception, it has over 6000 deliveries to its credit and boasts of a negligible infant mortality rate (IMR) and zero maternal mortality rate (MMR). Kids has also branched out into fertility services under the brand “Sure Fertility” in which it has a success rate of above 56%. Kids aspires to provide the best in class care at affordable costs by focusing rigorously on internal operations and processes. Nursing and personal attendance at Kids are amongst the best in the country with world class attendant: patient ratios. Kids recently shifted over from the brand “The Cradle” to “cloudnine” to define a mother’s emotions better while being in the moment of motherhood. Further information is available at www.cloudninecare.com About Matrix Partners India: Matrix Partners India is an investment firm with INR 3,000 crore under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to INR 150 crore in a company depending on its stage of development and has invested in several companies including Center for Sight (eye care chain), Muthoot Finance (Gold Loan NBFC), BSFL/BASIX (Microfinance Institution), FIITJEE (Engineering Test Preparation Company), Ver se Innovation (Mobile Classifieds Provider) and Tree House (preschool and K-12 schools) among others. Matrix Partners has a global network of funds investing in the US, China and India with US $3 billion under management. Further information is available at www.matrixpartners.in For more information, please contact: M. A. Rohit/ 080-40202202

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