Vasan Healthcare group, which runs the world’s largest network of standalone eye care hospitals across the country, is in talks with private equity (PE) firms to raise $150 million in the next few months to become the largest daycare service provider in India. The company, which raised $50 million from Sequoia Capital in two tranches during 2008 and 2009, will diversify into IVF, skin & cosmetology, urology, dialysis, diabetes centres to become an end-to-end service provider in the daycare area, said AM Arun, chairman, Vasan Healthcare group.
Speaking to the FE, Arun said, “Apart from making it big in the domestic market, the group will soon set up eye care hospitals in Dubai, Muscat and Colombo and will explore GCC and SE Asia markets, too, for future growth.” “We are targeting a group turnover of R1,000 crore in current financial year, nearly doubling it from R500 crore achieved in the previous financial year,” he added. Arun added, ?We expect to raise $150 million afresh before December and in talks with a select few firms. We are also planning to come up with an IPO early next financial year.?