Delhi-based Centre for Sight to add more units in next few yrs
The eye-care major has a network of 44 centres in 24 cities across nine states. With the fresh investment, it aims to add around 10-12 new centres each year over the next four years.Updated: May 17, 2019 05:42 IST
Centre for Sight Ltd. (NDCFS), one of India’s leading eye care chains based in the Capital, is on an expansion path in the ophthalmology healthcare segment , and has received an investment of Rs206.5 crore from Mahindra Partners.
The eye-care major has a network of 44 centres in 24 cities across nine states. With the fresh investment, it aims to add around 10-12 new centres each year over the next four years. The eye care chain majorly handles cases of cataract, clouding of the lens of the eye, lasik, laser vision correction, and retina procedures.
The two companies announced the deal that includes an investment of Rs20 crore from the promoters, which takes the total mix of primary and secondary investments to Rs226.5 crore.
“We are announcing the next series of funding for the Centre for Sight. Mahindra Partners have made an investment, which is their largest investment in healthcare so far,” said ophthalmological surgeon Dr Mahipal S Sachdev, chairman and managing director, Centre for Sight.
“It will help us sustain the scorching pace of growth we have set out for ourselves, enabling us to open new centres in our existing territories as well as in areas lacking quality eye care and also to drive growth through strategic acquisitions of existing practices,” said Dr Sachdev.
The managing partner, Mahindra Partners, Parag Shah, said, “This investment reflects Mahindra’s core values of doing well while doing good for the communities and society in which we operate. We have great confidence in the team, their strong focus on execution and the large, growing market they serve, will help drive the company’s future growth.”
The ophthalmologists-to-population ratio in urban India is 1: 25,000, while in rural areas it is close to 1: 219,000 persons.
At least 145 eye specialists are working with the company, and their eye-care hospital in Dwarka also provides training to post-graduate doctors in super-speciality care.
“We are also looking forward to playing a stellar role on ophthalmic training, education and research. The number of specialists is grossly inadequate, which is why we need to ensure more doctors and technology reach the needy,” said Dr Sachdev.