Chennai-based Dr Agarwals Eye Hospitals has strengthened its presence in Maharashtra by acquiring five eye hospitals in Pune. The leading eye care chain on Friday announced it has acquired Prabhudesai Eye Clinic (Kothrud); Global Eye Care Clinic (Pimpri Chinchwad and Sangvi); Om Eye Care (Viman Nagar and Vishrantwadi), all of which have been eyecare centres of repute in Pune for many years.
With the latest acquisition, the eyecare major’s in Pune has increased to seven and its total network globally increased to 118 eye hospitals.
“We look for businesses with strong fundamentals where there is a healthy headroom for growth through economies of scale and operational efficiencies. We strongly feel that Pune has a huge pent-up demand for quality eye care. The city can accommodate more than a dozen more eyecare centrEs to fully cater to the needs of patients,” Amar Agarwal, Chairman, Dr Agarwals Eye Hospitals, said in a press statement.
In May, Dr Agarwals Eye Hospitals raised over ₹1,000 crore from TPG Growth and the Singapore government’s private equity firm, which was considered the country’s largest fundraising in the eyecare space. The eyecare chain then announced that it is planning to increase its network to 200 hospitals in the next 2-3 years by adding 2-3 eye hospitals every month through a combination of brownfield and greenfield expansion.