New Delhi: Sharp Sight Group of Eye Hospitals announced equity investment from InvAsent. The 70cr investment will power the eye care provider’s expansion over the next three years. “We found that the thought process and ideology of InvAsent blended perfectly with our long term vision. We strongly believe we will be able to leverage their experience to our benefit as they have an expertise in backing many single speciality chains,” said Deepshikha Sharma, CEO, Sharp Sight Group of Eye Hospitals.
According to InvAsent, this investment is from InvAscent’s India Life Sciences Fund III, which has raised $250 million and began investing in November 2018.
The chain was founded by two first generation entrepreneurs Dr Samir Sud and Dr Kamal B Kapur and currently, the group runs seven hospitals in Delhi NCR & J&K. The eyecare chain is driven by CEO Deepshikha Sharma. She is aiming to strengthen the company’s foothold in tier II cities and underserviced areas over the next three years. There is a large unmet need for comprehensive eyecare services in North India especially tier II cities. Infact, penetration of organised eyecare is relatively lower in North India as compared to southern and western parts of the country the company said.
Sharma said, ”We also aim at creating social impact across regions where we expand. Most of the patients with visual impairment are dependent on their immediate family on a day-to-day basis. With rapid urbanisation happening in tier II cities we intend to create job opportunities and provide quality training and employment generation in these cities.”
”We will also identify potential candidates from Govt. runs schools in these areas and trains them depending on their potential and learning capabilities and absorbs them within the organisation there itself, ”said Dr Samir Sud, Co- Founder, Sharp Sight Group of Eye Hospitals.
“Technology being a forefront in enabling access to one and all will be an area we will harness. We intend to use technology to bring Ophthalmology to the doorstep of every one in tier II cities by way of Eyecare at home,” said Dr Kamal B Kapur, Co-Founder, Sharp Sight Group of Eye Hospitals.