Chennai-based eye care chain Dr. Agarwal’s Group of Eye Hospitals has raised Rs 215 crore from CDC group. The funding will support the company’s Rs 500-cr expansion plan over the next three years.
The Temasek-backed 63-year-old chain currently has around 90 hospitals in India and across the globe. It has 14 hospitals in Africa including Zambia, Ghana and Mauritius. The company which recently partnered with the Advanced Eye Institute in Navi Mumbai to enter the Mumbai market, plans to increase it to 150 in the next three years.
In the next three years, the company plans to open around 10 centers in Maharashtra, followed by hospitals in Kerala and Madhya Pradesh. The next phase of expansion outside India would be in South Asia, SAARC and Europe, as per a Business Standard report.
The report quoted Srini Nagarajan, Managing Director and Head of Asia, CDC Group as saying, “Our 70 years’ plus track record of investing responsibly across Asia and Africa will help drive Dr Agarwal’s Group’s expansion plans. Furthermore, we will share our broad healthcare sector experience with this ambitious management team, helping to bring eye care to many people in India, Africa and beyond. We look forward to embarking on a prosperous relationship with Dr Agarwal’s Group.”