Centre for Sight Expands Footprint in West India with Laxmi Eye Hospital Tie-Up
Centre for Sight has announced a strategic collaboration with Laxmi Eye Hospital to increase its footprint in Maharashtra to nine centres, including locations in Navi Mumbai and Thane.
Centre For SightLaxmi Eye HospitalHealthcareEyecarePrivate EquityReal Estate MaharashtraSep 04, 2024
The Delhi-based company currently has 82 centres across 40 cities and plans to add around 15-20 centres a year over the next four years, for a total of 150. As part of the collaboration, Centre For Sight has acquired a 51% equity stake in Laxmi Eye Hospital.
The investment underscores the growing interest of risk investors in single-specialty healthcare providers in India. The broader eyecare industry has received investments of more than $1.05 billion over the past couple of years.
Dr Mahipal Singh Sachdev, Chairman and Medical Director of Centre for Sight, said, “These collaborations not only enhance our capacity to meet the region's increasing needs but also exemplify the broader trend in healthcare, where consolidation is key to extending the reach of world-class services.”
Laxmi Eye Hospital serves around 2.5 million patients across four locations – Panvel, Khargar, Dombivili, and Kamothe. Centre for Sight will continue to look for more collaboration opportunities in west India to deepen its presence there.
The company is actively looking to add more centres in Gujarat and Maharashtra, where post-covid single doctor setups are now willing to sell to corporate chains. Over the past year, the eyecare chain has added 10 brownfield centres through strategic collaborations in various cities.
Private equity firm ChrysCapital recently picked up a minority stake in the eyecare chain for $100 million at a valuation of $350-400 million. Centre for Sight said it would use the funds to accelerate its expansion.
Raghav Ramdev, Managing Director of ChrysCapital, said, “The healthcare sector in India is a key area of focus for ChrysCapital given the significantly underserved market and the potential for share gain for organised players.”
About Centre for Sight
Centre for Sight is a leading healthcare chain with 82 centres across 40 cities in India. The company provides comprehensive eye care services, including cataract surgery, glaucoma treatment, and retina care.
About ChrysCapital
ChrysCapital is a private equity firm that invests in growth-stage companies in India. The firm has a strong focus on the healthcare sector and has invested in several companies in the space.
About Laxmi Eye Hospital
Laxmi Eye Hospital is a leading eye care hospital in Maharashtra, with four locations in Panvel, Khargar, Dombivili, and Kamothe. The hospital serves around 2.5 million patients and provides comprehensive eye care services.
Frequently Asked Questions
What is the investment plan of Centre for Sight in west India?
Centre for Sight plans to invest ₹300-500 crore over the next few years to expand its presence in west India.
How many centres does Centre for Sight currently have in India?
Centre for Sight currently has 82 centres across 40 cities in India.
What is the stake acquired by Centre for Sight in Laxmi Eye Hospital?
Centre for Sight has acquired a 51% equity stake in Laxmi Eye Hospital.
What is the focus area of ChrysCapital in India?
ChrysCapital has a strong focus on the healthcare sector in India and has invested in several companies in the space.
How many patients does Laxmi Eye Hospital serve across its four locations?
Laxmi Eye Hospital serves around 2.5 million patients across its four locations in Panvel, Khargar, Dombivili, and Kamothe.
Related News Articles
Taiwan's Real Estate Industry Shines with ESG Focus at 2024 FIABCI-Taiwan Excellence Awards
The 2024 FIABCI-Taiwan Real Estate Excellence Awards celebrate ESG initiatives, architectural aesthetics, and sustainable development in Taiwan's real estate industry.
India's Warehousing and Logistics Sector Sees 8% YoY Growth in H1 2024
The first half of 2024 witnessed a significant increase in warehousing and logistics absorption, with Mumbai and Pune leading the charge. The sector also saw a notable increase in investments, with $1.6 billion poured in during H1 2024.
R-Infra to Invest Rs 100 Billion in Maharashtra Defense Project
R-Infra has been allotted 1,000 acres in the Watad Industrial Area of Ratnagiri for the development of the Dhirubhai Ambani Defence Project. This significant investment aims to bolster India's defense infrastructure and create numerous job opportunities i
Aditya Birla Real Estate Reports Q2 FY25 Net Profit of INR 2.82 Crore
Aditya Birla Real Estate (previously known as Century Textiles and Industries) has shown a significant turnaround in its financial performance for the second quarter of the fiscal year 2025, with a net profit of INR 2.82 crore.
The Wealthiest Candidate in Maharashtra’s Elections: Parag Shah’s Assets Surge 575%
In the last five years, Parag Shah's assets have grown by an astounding 575%. During the 2019 assembly elections, his property was valued at Rs 550.62 crore.
Abhinandan Lodha's House Pushes Forward with Projects in Amritsar, Varanasi, and Vrindavan
Mumbai-based The House of Abhinandan Lodha, a renowned real estate firm, has announced new projects in the cultural hubs of Amritsar, Varanasi, and Vrindavan. These projects aim to blend modern amenities with the rich cultural heritage of these cities.