Maxivision plans to double branches in South India

M. Somasekhar Hyderabad | Updated on September 24, 2014

Maxivision Super speciality Eye Hospitals plans to double its strength to 40 Centres in Andhra Pradesh, Telangana, Tamil Nadu, Kerala, Maharastra and New Delhi.

“We want to reach this target by end of 2016. Each centre typically requires up to ₹3-5 crore investment to equip it with the best facilities and medical specialists,” said Sumeet Khanna, Chief Executive Officer.

With a 25-30 per cent CAGR for the past 2-3 years, the hospital turnover is expected to cross the ₹100-crore mark this financial year. The expansion plans will be supported through a combination of internal accruals and second round of venture funding, early next year. It had raised ₹60 crore from TVS Capital in 2011, Sumeet told BusinessLine.

Maxivision, part of Chennai-based Medfort Hospitals, which took over in 2011, was founded by noted eye surgeon KP Reddy in 1991 in Hyderabad. It’s present now in a dozen locations in Telangana and Andhra Pradesh and the rest in Chennai, Kerala etc.

The eyecare major offers Lasik and Laser treatments. The CEO and Chief Surgeon, Reddy, said that each centre will have the latest technology and expertise to provide best of vision care. Recently, the Wave Tech ORA, US, the latest refractive analyser has been installed, making it the first in India to offer treatment with it.

A multi-pronged strategy which includes developing greenfield ventures, setting up centres around expert ophthalmologists and tie-ups with hospitals in different cities is being pursued. In Andhra Pradesh, it wants to set up greenfield centres and is scouting for locations in Kurnool, Guntur, Nellore and Bhimavaram and one in Karimnagar in Telangana.

Published on September 24, 2014

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