In the following three years, Dr. Agarwal’s eye care chain intends to use the funds to increase its network from the present over 150 facilities to over 300 centres.
Dr. Agarwal’s Health Care, which specialises in eye treatments, has secured $80 million (Rs. 664 crore) from current investors, TPG Growth, the growth equity arm of TPG, and Temasek, a Singapore-based investment firm. According to a document, the corporation would use the money for its expansion ambitions.
The eyecare business intends to use the funds to increase its present network of over 150 locations to over 300 locations over the course of the following three years. New initiatives for Dr. Agarwal’s Health Care is now being worked on in Mumbai, Punjab, central India, and northern India.
Tamil Nadu, Karnataka, Maharashtra, Gujarat, Punjab, Telangana, Andhra Pradesh, Kerala, and West Bengal are the main markets for the firm.
SMILE, laser cataract surgery, and technologies to treat vitreo-retinal illnesses including diabetic retinopathy and age-related macular degeneration are just a few of the technical developments that Dr. Agarwal will fund.
Chairman of the Dr. Agarwal’s Group of Eye Hospitals, Prof. (Dr.) Amar Agarwal, stated, “Having backing from investors like TPG and Temasek further affirms our faith in staying true to our vision of being a truly global healthcare organisation that incorporates the best practises from various industries while relying on ongoing innovation and cutting-edge technology to serve our patients. In addition to purchasing the most recent technology for super-specialty eyecare, the additional investments will be used to increase our presence in India and beyond.
According to Dr. Adil Agarwal, CEO of Dr. Agarwal’s Group of Eye Hospitals, the investment will be utilised to help the company during its next phase of growth, which will involve both greenfield network expansion and the purchase of local hospitals and chains.
In the next few years, we will also open more than 100 primary eye clinics in tier 2 and tier 3 cities. Another crucial region for us geographically is Africa. We already have 15 hospitals in our network, and we plan to expand our footprint in Kenya, Zambia, and Tanzania by adding 10 locations there, he added.
According to Ankur Thadani, a Business Unit Partner at TPG Growth, Dr. Agarwal has the potential to dominate the worldwide eye care market.
Dr. Agarwal’s Group of Eye Hospitals began as a single hospital in Chennai in 1957 under the direction of Prof. (Dr.) Amar Agarwal. The network of Dr. Agarwal’s Eye Hospitals today consists of 151 locations distributed throughout Africa and India. The Group is present in ten different nations, including more than 14 Indian states. A staff of 3,500 workers and 500 ophthalmologists work at the company’s facilities. So far, they have attended to 15 million patients.
