Companies

Mahindra Partners invests ₹206.5 crore in Centre for Sight

Our Bureau New Delhi | Updated on May 15, 2019 Published on May 15, 2019

 

Private equity arm of the Mahindra Group, Mahindra Partners on Wednesday announced an investment of ₹ 206.5 crore in New Delhi based Centre for Sight Ltd (NDCFS) through a mix of primary and secondary. With this, the aim is to help NDCFS grow its leadership position in ophthalmology healthcare segment in India.

As part of this transaction, promoters further invested ₹20 crore, taking the overall investment to ₹ 226.5 crore. While, early investor Matrix Partners India fully exited its stake in NDCFS.

"Centre for Sight is a leader in ophthalmology in India and we want to be part of its evolution and the growth into the dominant Indian eye care brand," said Parag Shah, Managing Partner, Mahindra Partners.

It also fits into Mahindra Partners healthcare strategy which is focused on the delivery side with a bias towards single specialty, added Shah.

This is the second investment made by Mahindra Partners in the healthcare segment. It's first healthcare investment, Medwell Ventures, operates a home healthcare chain under the Nightingales brand.

Mahipal S Sachdev, CMD, NDCFS said: "Our association with Mahindra Partners will help us sustain the scorching pace of growth we have set out for ourselves, enabling us to open new centres in our existing territories as well as in areas lacking quality Eye care and also to drive growth through strategic acquisitions of existing practices."

Centre for Sight was established in 1996 and incorporated in 2002 by Padma Shri recipient, Mahipal Sachdev. It provides eye-care services from 44 eye care centres across nine states and around 24 cities in India.

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Published on May 15, 2019
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