Medical technology player Trivitron Healthcare is looking at raising around $100 million from private equity players within the next three months to support its future plans, including acquisitions.
“We will start the formal procedure for fund raising from February-March and would complete within three months. We are in talks with some top global private equity firms,” said GSK Velu, founder and managing director of Trivitron Group of Companies and chairman of Medfort Maxivision Group. He was speaking to reporters on the sidelines of inauguration of Maxivision Eye Care Hospitals here.
The fund would be used for expansion of its Medical Technology Park in the city and other projects apart from its plans for acquisition in Europe.
The company is looking at two to three acquisitions in European and US markets.
Velu said the company had recently announced three acquisitions in the medical imaging segment and therefore it would focus on acquisition in cardiology or diagnostics field.
According to earlier reports, the company is targeting to spend $10-25 million on each acquisition.
Meanwhile, the group’s dental clinic joint venture with Apollo Hospitals, with over 20 centres, will also be rebanded and would be announced shortly. The hospital would have four different formats of clinics. These would be a multibrand clinic format, with revised looks in brand, facility and treatment technologies, he said without revealing more details.
Trivitron currently has support of HSBC Private Equity (Asia), Asian arm of the HSBC group, and ePlanet Ventures, a venture capital company that picked up a stake in it in 2007.
Medfort Maxivision to expand
Medfort Maxivision Group, the eyecare chain under Medfort Hospitals, is planning to expand its presence in India and abroad with an investment of around Rs 100 crore in the next two years. “We have around 16 hospitals under Medfort Maxivision. This would grow up to 50 hospitals in two years,” said Velu.
Medfort had acquired Hyderabad-based eyecare chain Maxivision in an all-cash deal in August 201.1 All the Medfort Hospitals except the Delhi one would be named Maxivision Eye Care. The company has raised around Rs 100 crore from private equity player TVS Capital Funds for the expansion plans. The eyecare chain is promoted by Velu and co-chairman, Kasu Prasad Reddy.
