CHENNAI: Dr. Agarwal’s Health Care Ltd. has raised US$80 million from existing investors TPG Growth and Temasek to expand its network to 300 hospitals. The company plans to invest more than INR 1200 crore to set up hospitals across India and Africa. Dr. Agarwal has opened a new corporate office in Mumbai in BKC.
The fundraiser will provide significant capital to fuel the company’s expansion plans. The company plans to deploy capital to expand the current network of 150+ centers to over 300+ centers in the next 3 years. The company has new projects in development in Mumbai, Punjab, central and northern India, among others.
Along with the expansion of the network, the company will also be investing 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.
Dr. Agarwal’s Group of Eye Hospitals started as a single facility in Chennai in the year 1957. The group is led by Chairman Prof. (Dr.) Amar Agarwal. He is a pioneer in the field of eye care, known for several ground-breaking surgical innovations such as Glued IOL, PDEK, and PhakoNit. Dr. Agarwal’s Eye Hospitals now has a total network presence of 151 centers (140 hospitals and 11 eye clinics) spread across India and Africa.
The group offers a complete gamut of eye care services such as Cataract, Laser correction, Vitreo-Retinal Surgery, Corneal transplantation, Glaucoma, and Squint at its centers. In addition to this, super-specialty eye care services such as Pediatric ophthalmology, Ocular Oncology, Neuro-ophthalmology, Uvea, and Oculoplasty are also offered at its tertiary hubs.
Dr. Adil Agarwal, CEO, of 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 centers across these countries.“
The company’s growth potential has been recognized by investors such as TPG and Temasek, who have backed the company’s vision of providing world-class clinical outcomes along with compelling financial performance. Dr. Agarwal has the potential to become the global leader in the eye care segment.
