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HomeTechDialysis chain NephroPlus raises Rs 182 crore in Series E round

Dialysis chain NephroPlus raises Rs 182 crore in Series E round

Dialysis chain NephroPlus has raised Rs 182 crore in a Series E funding round led by IIFL Asset Management along with participation of existing investors and Bessemer Venture Partners.

The fresh capital will be used by the company to pursue growth opportunities across India and select International markets, according to a statement released on Monday.

The Hyderabad-based firm had raised Rs 316 crore in November 2019 from Bahrain-based PE firm InvestCorp. The company said the current round comes on the heels of a notable scale-up that the company has delivered in recent years towards maintaining its dominant market position in the dialysis space.

In the last two years, the company added 80-plus centres in India, entered the Philippines market with acquisition of Royal Care Dialysis and bagged a significant $100 million dialysis contract in Uzbekistan, which includes building the world’s largest dialysis centre in Tashkent.

So far, NephroPlus has signed up with over 200 hospitals as partners for operating dialysis centres including Fortis Hospitals, CARE Hospitals, Medanta and Max Healthcare. It has also set up dialysis centres in partnership with state governments.

NephroPlus operates 275 dialysis centres in more than 170 cities across 23 states in India and is known for its quality focus and patient-centricity. The company established 11 years ago treats 18,000 patients per month.

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“While NephroPlus had faced few challenges during the COVID waves, our scale, diversified presence, customer connect, along with strong backward integration on costs has helped us emerge stronger overall,” said Vikram Vuppala, CEO of NephroPlus. “We look forward to not only driving organic and inorganic growth in India & overseas with this capital, but also invest in building a unique digital health solution targeted at dialysis patients.”

IIFL Private Equity has $3 billion assets under management starting from early-stage to late-stage investments across healthcare, technology, financial services and consumer spaces.

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