LifeSpring Hospitals Private Limited is a 50-50 equity partnership between HLL Lifecare Limited (a government of India enterprise and formerly Hindustan Latex Limited) and the Acumen Fund, a U.S.-based nonprofit global venture philanthropy fund. Through the investment of HLL Lifecare Limited and the Acumen Fund, LifeSpring formed into a private limited company in February 2008.
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HLL Lifecare Limited began in 1966, with its incorporation as a corporate entity under the Ministry of Health and Family Welfare of the Government of India. While HLL is best known for its production of condoms (HLL has an annual production capacity of over 1 billion condoms), HLL today is a multi-product, multi-unit organization addressing various public health challenges facing India. It is the leading social marketing organization in India in the area of contraceptives, with a market share of over 65% in the rural and semi-urban markets. On the path of rapid growth, HLL has set its sights to be a Rs. 1000 crore company by the year 2010. |
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