Vikram Vuppala
SeaLink Capital Partners
NephroPlus
NephroPlus raises Rs 100 cr series-C funding from SeaLink Capital, IFC; Plans global foray
The company, currently with almost 100 dialysis centers, will use these proceeds to expand to 500 centers over the next five years.ET Bureau | August 24, 2016, 17:01 IST
Dialysis provider NephroPlus has raised Rs 100 crore in a round of Series C funding led by Mumbai-based private equity firm SeaLink Capital Partners and existing investor International Finance Corporation, a member of the World Bank Group.
Most of the amount has been pumped in by SeaLink Capital, who now have a minority stake in the company and Heramb Hajarnavis, managing partner of SeaLink Capital will join the board of directors of NephroPlus.
The company, currently with almost 100 dialysis centers, will use these proceeds to expand to 500 centers over the next five years.
Vikram Vuppala, founder, NephroPlus
"This is the biggest investment we have received so far," said Vikram Vuppala, founder of NephroPlus. "We are looking at expanding aggressively and also plan to open centers internationally within the next one year."
This expansion, they say, aims to provide over four million treatments per year and create around 5,000 skilled health services jobs.
"The manufacturer of dialysis machines is coming up with innovative financing schemes, with a pay-as-you-use model, which, along with the current funding, our accruals and the debt round with SIDBI will help us reach our goal of 500 centers in the next five years," added Vuppala.
India accounts for 12-15 lakh ESRD (End Stage Renal Disease) patients with 1-1.5 lakh new cases getting added every year. The increased incidence of diabetes and hypertension will further add to the prevalence of ESRD. However, only 10% of them have access to treatment facilities, leading to a strong case for pure play dialysis providers. This is where NephroPlus' services come in.
"We have been very impressed with how the team has scaled up their network of dialysis centers over the last few years while retaining a sharp focus on the quality of care," said Hajarnavis. "We look forward to working with Vikram and other members of the management team as they further expand their presence across India and address a crucial healthcare need for millions of people."
NephroPlus recently bagged an Andhra Pradesh government contract to launch one dialysis center each in the 13 district hospitals of the state.
Tags : Industry, Vikram Vuppala, SeaLink Capital Partners, NephroPlus, International finance corporation, hospitals