Morgan Stanley PE Asia gained a controlling stake in ClearMedi Healthcare, a Delhi-headquartered chain of oncology hospitals and radiation therapy centers, in a deal valued at about $35 million (Rs 285 crore). Italy's KOS Group, which has been an investor in strategy, exited ClearMedi by selling its stake to the PE firm and the promoters of the healthcare provider, people briefed on the transactions.

The deal also involved an infusion of equity into the company, the people said. They did not divulge specific details, such as the proportion of stakes picked by the PE fund and the founders from the KOS Group and the fund infusion in the company.

Founded in 2010 by Shashi Kant Baliyan, ClearMedi runs its facilities in eight states and a union territory. Chennai-based investment bankers Advay Capital advised the promoter team of Clearmedi and Morgan Stanley PE on the transaction.