Indian eye hospital chain Dr. Agarwal's raises $80 million from TPG, Temasek; shares rise as much as 10.3% after news
Health Care has raised $80 million from existing investors Singapore's Temasek and U.S.-based TPG The fundraise will provide significant capital to fuel the company’s expansion plans. The company plans to deploy capital to expand the current network of 150+ centres to over 300+ centres in the next 3 years. The company has new projects in development in Mumbai, Punjab, central and northern India, among others.
The company continues to achieve growth and success in its key markets including Tamil Nadu, Karnataka, Maharashtra, Gujarat, Punjab, Telangana, Andhra Pradesh, Kerala, and West Bengal. Along with the expansion of the network, the company will also be investing in technological advancements for vision correction such as SMILE, Laser Cataract Surgery, and for advanced technologies to treat Vitreo-retinal diseases such as Diabetic Retinopathy and Age-related macular degeneration. Shares of Dr.
Agarwal's Eye Hospitals rose as much as 10.3% after the announcement, before paring some gains to last trade up 4.2%. Prof. (Dr.) Amar Agarwal, Chairman, Dr.
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