Dr Agarwal’s raises $45 mn

By: |
Chennai | Published: January 30, 2016 12:31:27 AM

ADV Partners (ADV), a Hong Kong-based PE player, has invested $45 million in Dr Agarwal’s Group of Eye Hospitals...

ADV Partners (ADV), a Hong Kong-based PE player, has invested $45 million in Dr Agarwal’s Group of Eye Hospitals, in exchange for an undisclosed stake. This will play a pivotal role in enabling Agarwal’s Group to double its network of eye hospitals across India, Africa, Middle East and South East Asia over the next 4 years, the group said.

The expansion will be through a mix of strategic joint ventures and greenfield hospitals. ADV’s investment is predominantly in the form of compulsorily convertible preference shares in the privately held Agarwal’s Healthcare (AHCL). Out of the $45 million investment, an undisclosed sum will be utilised to give an exit to their existing investors, Evolvence India.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.