Chennai : Chennai-based Dr Agarwal’s Health Care Ltd has announced closing a fund raise of Rs 1,050 crore from TPG Growth, the middle market and growth equity platform of alternative asset firm Texas Pacific Group, and from existing investor Temasek, a global investment company headquartered in Singapore. The investment round, which is India’s largest fund raise in the eyecare space, will also provide significant capital to fuel the company’s expansion plans and pave the way for an exit for existing investor, ADV Partners, a release said and added the company also raised Rs 270 crore investment from Temasek in 2019.
Prof Dr Amar Agarwal, chairman, Dr. Agarwal’s Group of Eye Hospitals said, ‘we have had a great journey with our investor, ADV Partners, over the past six years. We are very excited to partner with TPG Growth and Temasek and look forward to the next phase of growth of our company. Backing from such world-renowned marquee investors further strengthens our ideology of providing quality eyecare to the people and bringing advanced technology to far-reaching corners of the country. The new investments will be used to expand our Indian and international footprint and deploy latest technologies for super-specialty eyecare.’ Dr Agarwal’s group intends to double the current network of 105 hospitals to over 200 hospitals in the next three-four years.