Dr Agarwal's Health Care raises Rs 650 crore from TPG and Temasek

Dr Agarwal’s Health Care (DAHCL) announced on Thursday that it has successfully raised Rs 650 crore in funding from its existing investors, TPG Growth and Temasek. The funds will be utilised to double the company's current network to over 300 centres over the next three years.

In addition, Dr Agarwal's Health Care has plans to invest around Rs 1,200 crore to establish hospitals across its regions in India and Africa. The company aims to use the newly acquired capital to expand its current network of over 150 centres to over 300 centres within the same three-year time frame.

The planned expansion will include key regions in India such as Mumbai, Punjab, central and northern India, and internationally, with the addition of 10 centres in Kenya, Zambia, and Tanzania.

Furthermore, the company will allocate funds towards the development of technological innovations in the field of vision correction.

Adil Agarwal, CEO of Dr Agarwal’s Group of Eye Hospitals, stated, “The investment will be used to support the business through its next phase of growth, including the acquisition of small hospitals and chains as well as greenfield expansion of our network. We are looking at doubling our network in the next three years and are also looking to expand aggressively in Maharashtra, Punjab, Delhi, Uttar Pradesh, and central India besides penetrating deeper into our existing markets. Africa is another important geography for us.”

Ankur Thadani, Business Unit Partner at TPG Growth, expressed excitement about the company's growth potential.

Veda Corporate Advisors acted as the financial advisors to Dr Agarwal’s Health Care on this transaction.