LifeSpring Hospitals is promoted by HLL Lifecare Ltd. (A Government of India enterprise) in 2005. Later, Acumen Fund, A US-based nonprofit global venture philanthropy fund, has also invested in LifeSpring Hospitals. With this investment, LifeSpring Hospitals has become a 50-50 equity partnership between HLL Lifecare Limited and the Acumen Fund, and was incorporated as a private limited company in February 2008.
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.
Acumen Fund is a U.S.-based nonprofit global venture philanthropy fund that invests in social businesses in the fields of healthcare, housing, water, and energy. Headquartered in New York, Acumen has country offices in India, Pakistan, and Kenya. Acumen Fund provides patient capital to social enterprises who have demonstrated success at a local level. In making investment decisions, the fund looks at both financial return and social impact.