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Maxivision Eye Hospital raises upto Rs 1300 Cr from Quadria Capital 

Organised chains, such as Maxivision, are expected to gain share from standalone clinics

Quadria Capital, a healthcare-focussed private equity firm, announced an investment of up to Rs 1,300 cr in Maxivision Eye Hospital. Quadria will make an initial investment of roughly Rs 600 crores for a minority stake and a further investment of up to Rs 700 crores for an additional stake, representing one of the largest investments in the eye care services space, to support Maxivision’s ability to scale and serve the growing demand for eye care in India, particularly in Tier-II and Tier-III cities that remain underserved by the Indian eye care market.

Dr GSK Velu, Promoter and Chairman, Maxivision, said, “Our business has evolved tremendously over the past few years and today we are proud to be one of the fastest-growing and most trusted providers of eye care, particularly in South and West India. Quadria’s expertise, capital and focus on operational value creation will put us in an even better position to keep scaling, innovating, and delivering for patients seeking affordable and quality eye care.”

Sunil Thakur, Partner and Head of South Asia, Quadria Capital, said: “Quadria’s investment into Maxivision underscores our ambition to invest in regional leaders of Asian healthcare, who offer full-service offerings within a single speciality to the wider population. Maxivision has successfully demonstrated its ability to improve lives and outcomes whilst achieving organic growth and maintaining industry-leading growth and profitability. We look forward to working with their leadership team and bringing our global and local access to expertise, technology and markets to further accelerate Maxivision’s next phase of growth.”

Sudheer VS, CEO, Maxivision, said: “The market for eye care in India is expected to grow at a rate of over 12 per cent per year over the next five years. With our strong brand, doctor roster, and partnership model, Maxivision is well-positioned to capitalise on and be at the centre of, this growth. With Quadria’s support, both through their investment, and also deep experience in the sector, we will be able to meet this growing demand for affordable, accessible and high-quality eye care across India.”

Veda Corporate Advisors were the Exclusive Financial Advisors to the Company and Promoters on this transaction.

Organised chains, such as Maxivision, are expected to gain share from standalone clinics, and Quadria sees an opportunity for the company to further scale through accretive tuck-in acquisitions, particularly in Maharashtra, Gujarat, Karnataka, Kerala and Madhya Pradesh.

Quadria’s approach is rooted in its ability to create value through its extensive network, experience and focus on the Asian healthcare sector. The company has a strong track record of successful investments in some of India’s leading single specialty healthcare companies including AIG, a leading global referral centre for gastroenterology and HCG, India’s leading oncology network.

 

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