Quadria Capital (“Quadria”), one of Asia’slargesthealthcare-focused private equity firms announced an investment of uptoINR 1,300 crores in Maxivision Eye Hospital (“Maxivision”), one of India’sleading andfastest-growing private eye care clinics. Quadria will make aninitial investment of roughly INR 600 crores for a minority stake and a furtherinvestment of up-to INR 700 crores for additional stake, representing one ofthe largest investments in the eye care services space, to support Maxivision’sability to scale and serve the growing demand for eye care in India,particularly intier-2 and tier-3 cities that remain underserved by the Indianeye care market. Overall, the broader eye care industry has receivedinvestments of over INR 7,000 cr in the last year.
Founded in 1996, Maxivision operates 42 centres in six states acrossSouth and West India, with a leadership position in Andhra Pradesh andTelangana. The company offers a full suite of eye care services, including cataractsurgery, LASIK and ReLEx Smile treatments, treatments for retinal issues andglaucoma, oculoplasty, as well as neonatal and paediatric eye care.
Dr. GSK Velu, Promoter and Chairman of 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, Partnerand Head of South Asia at Quadria Capital, said: “Quadria’s investment intoMaxivision underscores our ambition to invest in regional leaders of Asianhealthcare, who offer full-service offerings within a single speciality to thewider population. Maxivision has successfully demonstrated its ability toimprove lives and outcomes whilst achieving organic growth and maintainingindustry-leading growth and profitability. We look forward to working withtheir leadership team and bringing our global and local access to expertise, technologyand markets to further accelerate Maxivision’s next phase of growth.”
Mr Sudheer VS,CEO ofMaxivision, said: “The market for eye care in India is expected to grow at a rate of over12% 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 atthe centre of, this growth. With Quadria’s support, both through theirinvestment, and also deep experience in the sector, we will be able to meetthis growing demand for affordable, accessible and high-quality eye care acrossIndia.”