Dr Agarwal’s raises Rs 650 cr from TPG, Temasek to boost network

CHENNAI: Dr Agarwal’s Health Care Ltd has raised $80 million (over Rs 650 crore) from existing investors TPG Growth and Temasek.

The fundraise will provide significant capital to fuel the company’s expansion plans. The company plans to deploy capital to expand the current network of 150+ centres to over 300+ centres in the next 3 years.

It has new projects under development in Mumbai, Punjab, central and northern India, among others. The company continues to achieve growth and success in its key markets including TN, Karnataka, Maharashtra. The company will also be investing in technological advancements for vision correction such as SMILE, Laser Cataract Surgery and for advanced technologies.

Amar Agarwal, chairman, Dr Agarwal’s Group of Eye Hospitals said, “The new investments will be used to expand our Indian and International footprint, along with acquiring the latest technologies for super-specialty eyecare.”

Dr Adil Agarwal, CEO, Dr Agarwal’s Group of Eye Hospitals added, “The investment will be used to support the business through its next phase of growth, including the acquisition of small hospitals and chains as well as greenfield expansion of our network.”

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. We will also be establishing over 100 primary eye clinics in tier 2 and tier 3 towns in the next couple of years. Africa is another important geography for us. We have an existing network presence of 15 hospitals, and we will be deepening our presence in Kenya, Zambia, and Tanzania and look to add 10 centres across these countries,” he added.

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