Dr. Agarwal’s eye care group to expand in India

Chennai, Jan 29 (IANS) Eye care hospital chain group Dr. Agarwal’s will be expanding its network in India, Africa, Middle East and southeast Asia with $45 million investment by private equity ADV Partners, said a senior official.

“We will be doubling our network — currently 60 hospitals — over the next four years using the fresh capital infusion from ADV Partners. Part of the investment will be utilised to provide an exit route to Evolvence India that had earlier invested in Dr. Agarwal’s Healthcare Ltd,” Adil Agarwal, director, told IANS on Friday.
The Rs.350 crore revenue group operates 60 eye hospitals in India, Africa and Cambodia.
On the domestic front, the group will consolidate its operations and also enter new markets like Kerala, Gujarat, New Delhi, Maharashtra and Punjab.
Speaking about diversification plans, Agarwal said the group is looking at getting into making low cost medical devices partnering with some technology start-ups.