[Funding alert] Investcorp invests Rs 316 Cr in dialysis service provider NephroPlus

Global alternative asset manager Investcorp announced that it has invested Rs 316 crore (approximately $45 million) in Hyderabad-based dialysis service provider Nephrocare Health Services Private Limited. 

Gaurav Sharma, Co-Head of Private Equity, Investcorp India, said, 

“NephroPlus meets every criteria Investcorp looks for in an investment: outstanding founders supported by a solid team, impeccable clinical quality adherence, and market leadership focused on providing access to high-quality services at an affordable price point across a large and growing addressable market.” 

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Previous investors in NephroPlus include Bessemer Venture Partners and IFC (the private-sector arm of the World Bank), who will continue to stay invested alongside Investcorp, while one of the earlier investors, SeaLink Capital, has exited.

The primary capital raised in this round will be utilised for organic growth in India and taking the proven business model of NephroPlus to other markets, starting with Southeast Asia. NephroPlus aspires to build a regional network of dialysis centers spanning India and select countries in Asia and the GCC region.

Founded in 2010 by Vikram Vuppala and Kamal D Shah, NephroPlus claims to be the leading dialysis service provider in India, with over 140,000 dialysis sessions provided per month in 196 centers spread across 115+ cities.

NephroPlus has a strong focus on patient-centric care with each patient treated as a “guest”. Over the last five years, it has become a strategic dialysis partner of choice for almost all the top hospitals in India including Max, Medanta, FMRI, and 180 other reputed hospitals across the cities it operates in. It also acquired DaVita’s India business late last year, with the integration completed earlier this year.

Vikram Vuppala, Founder and CEO of NephroPlus, said, 

“Over the last decade, NephroPlus has refined its high quality but cost-effective model to become the most widespread healthcare delivery network in India.  Now is the time to grow beyond India while also cementing our leadership position in India with continued growth momentum.”

In India, Investcorp targets investment opportunities across three key sectors – healthcare, financial services, and mass-market consumer. Apart from NephroPlus, Investcorp Private Equity Fund II has so far invested in six companies, namely, InCred, ASG, Zolo, Citykart, Intergrow Brands, and Bewakoof.com.

(Edited by Athirupa Geetha Manichandar)

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