Dr. Agarwal’s Healthcare Ltd. (DAHCL) plans to double the number of its super-speciality eye hospitals over the next five years, said a top official.
“As part of our expansion plan, we have raised ₹270 crore from the Singapore-headquartered global investment company Temasek,” said Amar Agarwal, CMD, Dr. Agarwal’s Group of Eye Hospitals.
Latest technology
“It is a primary investment and [the money] will be used for expansion and investments in latest technology,” he said. Currently, DAHCL has 76 hospitals in 10 States and African nations. It is planning to add another 75 eye hospitals in three phases. In the next 15 months, it will add 25 hospitals, followed by another 25 each in three years and five years respectively.
“Since 2016, we have raised ₹700 crore for our expansion programme. From a single hospital in 2006, we have added 75 hospitals in 10 years. Our vision is to deliver high quality eye care at affordable prices at people’s doorsteps,” he said.
“We need about ₹5 crore per hospital. The current funding will enable us to take care the financial needs of 50 hospitals. We also have internal accruals,” said Adil Agarwal, CEO, Dr. Agarwal’s Group of Eye Hospitals.
According to Dr. Adil Agarwal, the expansion would be done through organic and inorganic route via a mix of strategic partnerships, acquisitions and greenfield hospitals. Greenfield projects would be set up in States where it had adequate presence and go for acquisitions in newer markets. The company’s shares gained 3.31% to close at ₹375 on the BSE.