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International Finance Corporation has invested $7 million (over Rs 41 crore) in dialysis provider NephroPlus to expand access to high quality kidney care services in India.
NephroPlus will open dialysis centres across the country. It already operates 26 centres in 10 states.
Venture Capital Lead for South Asia at IFC Pravan Malhotra said: "High quality dialysis providers with a commitment to operational excellence need to scale up to meet India's enormous healthcare needs. We are helping NephroPlus do that."
Providing high quality dialysis care in a highly underserved market not only improves quality of life for chronic kidney care patients, but also creates skilled healthcare jobs and boosts growth, he added.
"The investment will enable NephroPlus to leverage IFC's global healthcare knowledge and industry relationships with a view to expand NephroPlus' quality dialysis care model in India," NephroPlus Founder and CEO Vikram Vuppala said.
IFC is a long-term partner for NephroPlus with significant healthcare expertise and a broad network of healthcare clients across emerging markets, he added.
IFC is one of the world's largest multilateral investor in the private health care sector in emerging markets, with financing of over $2.2 billion to 164 private health care and life sciences projects in 53 countries.
