ICICI Venture is planning to float a company that will buy medium-sized hospitals and pharmacy chains and act as a holding company for the fund’s investments in the booming healthcare sector. India’s largest domestic PE fund has already decided to allocate $250 million to the holding company, which will be set up over the next one month. Temporarily called I-Ven Medicare, the company will be the lead vehicle for all ICICI Venture’s investments, buyouts in the healthcare space, Renuka Ramnath, CEO and MD of the fund, told ET. ICICI Venture is in talks with four hospitals in different parts of the country for a complete buyout. They are also examining proposals from other small and medium-sized hospitals across the country who need funds. India’s healthcare sector has boomed in recent years. A CII-McKinsey study estimated that India will spend $45.6 billion on health in the next five years.   more »