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    ASG Hospital raises Rs 1,500 crore in largest fundraise in eye care industry

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    ASG Hospital raises Rs 1,500 crore in largest fundraise in eye care industry

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    ASG Eye Hospital has raised Rs 1,500 from General Atlantic, Kedaara Capital, Foundation Holdings and others.

    ASG Eye Hospital, an unlisted company which runs eye hospitals across India, has raised Rs 1,500 crore from General Atlantic, Kedaara Capital, Foundation Holdings and others. This is the largest fundraise in the eye care industry in the country.
    It is expected to be one of the largest private equity transactions in the single-speciality healthcare industry within the country. The transaction will help Investcorp, that had invested in the company in 2017, exit.
    ASG Hospital has over 50 hospitals across India. It doubled its hospital count and tripled revenue in the last three years and is focused on growing operations in the country as well being a leading eye hospital chain in Asia.
    The company's plan is to establish a network of 200 hospitals within the next 36 months.
    “Since 2005, ASG Eye Hospitals’ doctor-led model has stood for clinical excellence and quality eye-care for all. We have been fortunate to work with like-minded, value-additive investors like Foundation Holdings that have been true partners and have strengthened our model, allowing for our expansion across India to establish over 50 hospitals," said Dr Arun Singhvi, Chairman and Managing Director and Dr Shilpi Gang, Co-Founder, ASG Hospital in a statement.
    Shantanu Rastogi, Managing Director at General Atlantic, said, “General Atlantic has followed ASG Eye Hospitals for several years, and we are strongly encouraged by Drs. Singhvi and Gang’s commitment to clinical rigor and quality, grounded in academic research and training."
    Watch the accompanying video of CNBC-TV18’s Ekta Batra for more details.
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