NephroPlus, which has 275 dialysis centres in over 170 locations across 23 Indian states, announced on Monday that its Series E round of investment has been completed, allowing it to explore development possibilities in India and select international markets.
The new round, which is headed by IIFL Asset Management (IIFL AMC) and includes previous investors InvestCorp and Bessemer Venture Partners (BVP), follows the company’s considerable scale-up in the dialysis industry in recent years, according to a statement from Hyderabad-based NephroPlus.
In the last two years, NephroPlus has cemented its market leadership position by adding 80 plus centres in India, entered the Philippines market with the acquisition of Royal Care Dialysis, and secured a significant USD100 million dialysis contracts in Uzbekistan, which includes the construction of the world’s largest dialysis centre in Tashkent.
So far, NephroPlus has partnered with over 200 reputable institutions, including Fortis Hospitals, CARE Hospitals, Medanta, and Max Healthcare, to operate dialysis centres.
It has also established PPP centres in collaboration with state governments and runs Tirupati’s largest dialysis centre.
Mr. Vikram Vuppala, the founder and CEO of NephroPlus, said on the transaction, it’s great to have our two current investors (InvestCorp and BVP) joining in this Series E round as well. We want to use this cash to not only drive organic and inorganic expansion in India and beyond, but also to invest in developing a unique digital health solution for dialysis patients.
The pedigree and long-term global investor base that NephroPlus continues to attract, according to Kamal Shah, NephroPlus Co-founder and Director of Guest Services, is a testament of the trust NephroPlus has earned not only from the patients but also of the potential impact we can make in dialysis on a global level.
Anshuman Goenka, Head Private Equity, IIFL Asset Management, said, “We are excited to partner with the dialysis market leader NephroPlus. As an integrated dialysis chain with a strong track record of growth and returns, NephroPlus will continue expanding into new geographies in India and overseas.
