Dr. Agarwal’s Will invest more than 1200 Cr to set up hospitals across India & Africa.

MUMBAI, Aug 17 (The CONNECT) -Dr. Agarwal’s Health Care Ltd., has raised US$80 Mn from existing investors TPG Growth and Temasek.

The company plans to deploy capital to expand the current network of 150+ centres to over 300+ centres in the next 3 years. The company has new projects in development in Mumbai, Punjab, central and northern India, among others. It will also invest in technological advancements for vision correction such as SMILE, Laser Cataract Surgery and for advanced technologies to treat Vitreo-retinal diseases such as Diabetic Retinopathy and Age-related macular degeneration.

Prof. (Dr.) Amar Agarwal, Chairman, Dr. Agarwal’s Group of Eye Hospitals said, “ the backing from investors such as TPG and Temasek, further affirms our faith in staying true to our vision of being a truly global healthcare organization which imbibes the best practices from different sectors while relying on continuous innovation and cutting-edge technology to serve our patients.”

“We continue to be excited about the growth potential of the company and share the company’s vision of providing world class clinical outcomes along with compelling financial performance. Dr. Agarwal’s has the potential to become the global leader in eye care segment,” said Ankur Thadani, Business Unit Partner in TPG Growth.

Dr. Adil Agarwal, CEO, Dr. Agarwal’s Group of Eye Hospitals said, “we are looking at doubling our network in the next 3 years and are also looking to expand aggressively in Maharashtra, Punjab, Delhi, Uttar Pradesh, and central India besides penetrating deeper into our existing markets.”

The Hospitals will also establish over 100 primary eye clinics in tier 2 and tier 3 towns in the next couple of years.

In Africa, they have15 hospitals and look to add 10 centres across these countries.

Veda Corporate Advisors was the financial advisor to Dr Agarwal’s Health Care Ltd. on this transaction.