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Dialysis service provider NephroPlus on Wednesday announced that it has raised ₹100 crore in Series C funding led by SeaLink Capital Partners (SCP) and International Finance Corporation, a member of the World Bank Group.
Heramb Hajarnavis, Managing Partner, SeaLink Capital Partners (SCP), is joining the Board of Directors of NephroPlus.
The infusion of funds will help meet the growing need for kidney disease management services in the country and for the expansion of NephroPlus’ network. Over the next 5 years, the Hyderabad-based company aims to provide over 4 million treatments per year and create around 5,000 jobs. The expansion plan will also witness NephroPlus network growing to 500 centres.
India accounts for 12-15 lakh ESRD (End Stage Renal Disease) patients with 1-1.5 lakh new cases getting added every year. The increased incidence of diabetes and hypertension will further add to the prevalence of ESRD. However, only 10 per cent of them have access to treatment facilities.
NephroPlus had earlier received funding of $10 million (₹60 crore) in a Series B round from IFC and existing investor Bessemer Venture Partners in June 2014 and $4.25 million (₹23 crore) in a Series A round led by Bessemer Venture Partners in 2011.
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