TVS Capital’s TVS Shriram Growth Fund and ePlanet Capital have infused around Rs 20 crore in Chennai-based hospital chain Medfort Hospitals.
GSK Velu, managing director, Medfort Hospitals, confirmed the fund raising plans and said this was the second round of infusion by the funds. In 2010, both the funds had infused around Rs 70 crore into Medfort.
“The second round of investment will help us complete our already announced expansion to 10 cities from the current six,” said Velu.
The number of hospitals would be increased to 35-40 from the current 20 in fiscal 2013.
Seven months ago, Medfort that specialises in eyecare and diabetes treatment, merged with Hyderabad-based eyecare chain Maxivision Eye Hospitals.
With the merger, the company now has a 12-facility eye hospital network, with presence in cities like Delhi-National Capital Region, Hyderabad, Chennai, Visakhapatnam and Vijayawada.
