The global manager of alternative investment products for private and institutional clients on Monday invested $45 million in the Hyderabad headquartered dialysis services provider NephroPlus in a Series D funding round.
The existing investor Sea-Link Capital Partners who invested around ₹90 Cr to ₹100 Cr is reportedly taking its exit from the company after three years of investment in the company.
The latest funding will help NephroPlus expand deeper into the Indian market and establish itself overseas including the Middle East and South-East Asia.
As reported by the Economic Times, the co-head of private equity at Investcorp India, Gaurav Sharma said…
“It’s been a company that we’ve been following from the sidelines for some time now. In terms of breadth and width of delivery, NephroPlus has, possibly, the largest reach in India. We think, given our experience in healthcare globally, there are a lot of areas where we can add value,”
The Founder & CEO of NephroPlus, Vikram Vuppala told ET…
“While we will keep investing and cementing our position in India, we want to figure out 4-5 markets over the next few years, where significant value and impact can be created, such as Indonesia, Philippines and Vietnam,”
The company was founded by former McKinsey executives Vikram Vuppala and Kamal Shah in 2010 and claims to undertake around 2 million treatments a year. The works on a revenue-sharing model by partnering with India’s top hospitality and medical facilities including Medanta, Max and FMRI. The company has a spectrum of centres across the nation including Bihar, West Bengal, Goa, Puducherry, Jammu & Kashmir, Rajasthan, Andhra Pradesh, Delhi-NCR, Gujarat, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Uttarakhand, Uttar Pradesh; and also Nepal and Jakarta, Indonesia.
The New York-based global asset manager has offices in London, Bahrain, Abu-Dhabi, Riyadh, Doha and Mumbai. Investcorp earlier this acquired the private equity and real estate investment businesses of IDFC Alternatives earlier this year. Investcorp entered India back in February by establishing an office in Mumbai and sooner in July closed a maiden India PE fund at ₹1,000 cr.
The Bahrain-based wing of Investcorp with Abu-Dhabi based Mubadala Investment has backed seven Indian companies until now – including InCred, Zolostays, ASG Eye Hospitals, Citykart, Intergrow Brands and Bewakoof.
Statements enclosing the funding round
“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. We look forward to supporting Vikram to realize the full potential of the NephroPlus business model, both in India and abroad.”
– Gaurav Sharma, Co-Head of Private Equity, Investcorp India
“Over the last decade, NephroPlus has refined its high quality but cost-effective model to become the most widespread health care delivery network in India. Now is the time to grow beyond India whilst also cementing our leadership position in India with continued growth momentum. My co-founder Kamal Shah and I are delighted to welcome Investcorp at this stage into N