Dialysis Network NephroPlus Raises $24 Mn To Expand In India, Abroad
Asia’s leading dialysis network, NephroPlus, has closed $25 million in a Series E round of funding to pursue growth opportunities across India and select international markets. The current round led by IIFL Asset Management (IIFL AMC) along with investment from existing investors InvestCorp and Bessemer Venture Partners (BVP). The firm said this comes on the heels of notable scale-up that the company has delivered in recent years towards maintaining its dominant market leadership in the dialysis space.
“While NephroPlus had faced few challenges during the Covid waves, our scale, diversified presence, customer connect, along with strong backward integration on costs has helped us emerge stronger overall,” said NephroPlus founder and CEO, Vikram Vuppala. “We look forward to not only driving organic and inorganic growth in India and overseas with this capital but also invest in building a unique digital health solution targeted at dialysis patients.”
NephroPlus co-founder and director of guest services, Kamal Shah, himself on dialysis for over 23 years said NephroPlus was founded with the sole purpose of impacting the lives of dialysis patients positively. “We have come a long way in making high-quality care accessible to tens of thousands of patients in India and now overseas as well,” said Shah. “The pedigree and long-term global investor base we continue to attract is a testament of the trust NephroPlus has earned not just from the patients, but also of the potential impact we can make in dialysis at a global level.”
NephroPlus had raised a prior round of funding in 2019 from InvestCorp, one of the leading global private equity investors. In the last two years, it further cemented its market leadership position by adding over 80 centres in India. It entered the Philippines market with the acquisition of Royal Care Dialysis and bagged a significant $100 million dialysis contract in Uzbekistan, which includes building world’s largest dialysis centre in Tashkent. So far, NephroPlus has signed up over 200 reputed hospitals as partners for operating dialysis centres including Fortis Hospitals, CARE Hospitals, Medanta and Max Healthcare. It has also set up PPP centres in partnership with state governments and operates the country’s largest dialysis centre at Tirupati.
“As an integrated dialysis chain with a strong track record of growth and returns, NephroPlus will continue expanding into new geographies in India and overseas,” said Anshuman Goenka, Head Private Equity, IIFL Asset Management. “There are not too many unique scaled-up market-leading businesses in healthcare like NephroPlus, especially with such a capable management team.”
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more