General Atlantic and Kedaara Capital Lead INR 1,500 Crore Investment in ASG Eye Hospitals
National, July 29, 2022: ASG Eye Hospitals, India’s leading eye hospital chain, today announced an investment of Rs 1,500 crore by General Atlantic and Kedara Capital, marking India’s largest fund raising and single largest investment in the eye care industry. Represents large private equity transaction. specialized health care industry to date. General Atlantic and Kedara Capital will join existing operation-focused healthcare investments or foundation holdings to support and fuel the growth of ASG Eye Hospitals towards its mission to become one of Asia’s leading eye hospital chains. The transaction is also expected to pave the way for the exit of Invest Corp, which had invested in the company in 2017. In the last 3 years, ASG has doubled the number of hospitals and tripled its revenue.
Dr. Arun Singhvi, CMD and Dr. Shilpi Gang, Co-Founder, ASG Hospital Pvt. Ltd. Said, “Since 2005, the doctor-led model of ASG Eye Hospitals has stood for clinical excellence and quality eye care for all. More than 50 Hospitals. We are pleased and excited to welcome General Atlantic and Kedara Capital on their mission to enhance the delivery of quality eye care for all and improve the quality of life across India. This landmark investment is a testimony to the strength of our business model and further strengthens ASG Eye Hospitals. Continued success in attracting talented investors. We also appreciate the Investcorp team for their strategic support over the past 5 years.
Akash Sachdev, Co-Founder and Managing Director, Foundation Holdings said, “Dr. Singhvi, Dr. Gangand’s team has built ASG Eye Hospitals as a uniquely enabled platform that is today at the forefront of eye care in India and has impacted the lives of millions. We have successfully worked together to deliver strong growth through a mix of organic and inorganic initiatives focused on enhancing quality efficiencies to rapidly scale up the retail healthcare delivery model across India. With plans to set up a network of over 200 hospitals within the next 36 months, this fundraising is expected to accelerate the realization of ASG Eye Hospitals’ vision of becoming Asia’s leading eye care provider. With impending planned acquisitions in South India and our high-quality M&A pipeline spanning key markets across the country, we are pleased to welcome and partner with two highly respected and forward-thinking investors at this transformative inflection point in the history of ASGEye Hospitals.
