Dr Agarwal’s Healthcare Limited, India’s leading eye care chain, has announced an agreement with Edelweiss Special Opportunities Fund II to raise Rs 160 crore. The fund will be generated through structured debt arrangement and will be used to fuel the company’s growth plans. Dr Agarwal’s Group of Eye Hospital aims to grow its network from the current 70 centre to 150 centres by 2020.
Elaborating about the funding, Dr Adil Agarwal, Chief Executive Officer of Dr Agarwal’s Healthcare Limited, said, “We are thrilled to have ESOF on board as investors as we continue to increase our pan India presence by launching hospitals in newer geographies such as within India as well as abroad. In India we are looking at entering Madhya Pradesh, Uttar Pradesh, Bihar and Jharkhand. Internationally, we will be launching our first hospital in the Middle East. We are also planning to strengthen our presence in the existing geographies, especially in Maharashtra, West Bengal, Gujarat and Kerala.”
“This will allow us to plan for sustainable development in the sector so that we can continue to deliver high-quality care for generations to come. Additionally, it will also foster investments in new and innovative models of care, ensuring our patients receive the best care using the latest advances in technology”, added Dr Adil Agarwal.