L Catterton invests in Pune-based healthcare chain Healing Hands Clinic
The deal will give Healing Hands access to L Catterton’s global experience in building consumer healthcare businesses and support its plans to expand beyond its current network of 36 clinics across 14 cities.
Private equity firm L Catterton on Friday said it has invested in Healing Hands Clinic, a proctology-focused healthcare chain, marking its first bet on India's speciality outpatient segment as demand for anorectal care rises.
The deal, whose financial details were not disclosed, will give Healing Hands access to L Catterton’s global experience in building consumer healthcare businesses and support its plans to expand beyond its current network of 36 clinics across 14 cities.
Founded in 2013 by Dr Ashwin Porwal, Dr Snehal Porwal, and Roshan Porwal, the Pune-based chain specialises in treating piles, fissures, fistulas, and constipation using a mix of allopathic medicine and proprietary plant-based formulations. The founders said the partnership marks the company’s first external investment.
“Partnering with L Catterton is a key milestone in our journey to build India’s most trusted name in anorectal care,” the founders said in a joint statement. “We look forward to leveraging its global experience to expand our network and deliver consistent, high-quality care.”
According to Sanjiv Mehta, Executive Chairman of L Catterton India, the investment reflects the firm’s confidence in India’s fast-evolving healthcare consumption patterns. “Healing Hands is transforming the way anorectal care is delivered in India, redefining patient experience,” Mehta said.
Bootstrapped until now, the company said the infusion will help it accelerate expansion and introduce its care model to more Indian cities.
L Catterton, which manages nearly $38 billion in assets, has previously backed healthcare and wellness companies, including ClearChoice, Thorne HealthTech, and FYidoctors. The investment adds to its growing portfolio of consumer-facing businesses in Asia.
The proctology and anorectal care segment in India focuses on treating conditions such as piles, fissures, fistulas, and chronic constipation—ailments that are common but often underreported due to stigma.
Traditionally managed by general surgeons, this field has evolved into a defined speciality with the rise of dedicated clinics and day-surgery centres offering minimally invasive or laser-based treatments.
The segment is expanding rapidly, driven by urban lifestyles, low-fibre diets, and sedentary work patterns that have increased the prevalence of anorectal disorders. Growing awareness, insurance coverage for daycare procedures, and shorter recovery times are encouraging more patients to seek treatment.
Clinics like Healing Hands, Pristyn Care, and SurgiKure are leading this change, combining clinical care with consumer-focused services and proprietary products. Many operate as multi-city networks or tech-led platforms, offering standardised care and easy patient access.
The economics are attractive; procedures typically cost between Rs 25,000 and Rs 80,000, with high operating margins and repeat demand. However, scaling remains a challenge due to a shortage of trained specialists, limited regulatory oversight, and the need to maintain patient trust in a sensitive healthcare category.
Edited by Suman Singh