New Vision plans clinic in Mumbai

Vadodara-based New Vision Laser Centre, which has a chain of clinics for laser vision and cosmetic laser treatment across India, plans to invest Rs 4 crore this year to upgrade its clinics.

New Vision plans to open a hi-tech clinic in Mumbai, where a whole range of vision and cosmetic surgeries will be performed under one roof. The clinic will have 12 lasers equipped to handle any kind of vision treatment or surgery.

"We have come a long way since 1995, when we set up the first laser eye clinic. We now have a chain of 13 laser clinics and 16 New Look laser clinics," said Samir Shah, managing director of New Vision Laser Centre, the company that promotes the eye laser clinics.

The holding company for the cosmetic laser centres is called New Look Cosmetic Lasers Pvt Ltd. New Vision earned cash profits of Rs 2 crore last year.

Shah has adopted the partnership route in most of its clinics. "Except for one laser eye clinic, I hold between 30 and 80 per cent stake in all other clinics, with the average holding being 50 per cent," said Shah. Only the Bhopal model is a 100 per cent franchisee model, he added.

"Having used laser treatment for eye ailments (my wife is an ophthalmologist), we decided to use it for cosmetic surgery. We have developed the two chains to complement each other. Of the 16 centres for cosmetic surgery, most are either clubbed with or adjacent to the eye clinics," Shah said.

In cosmetic surgery, Shah sees competition from the Kaaya chain promoted by the Marico Industries group.

"But we are drastically different from the Kaaya chain because a majority of our patients are referred to us by doctors, while Kaaya is being promoted primarily as a beauty parlour chain," the New Vision MD said.

Shah said another focus area for New Vision will be to address problems of about five or six partnership companies that are underperforming. "Although these are partnering companies, their dull show ultimately affects us," Shah added.