Economy

Medfort-LV Prasad eyecare initiative in UAE gets under way

Swetha Kannan Chennai | Updated on July 09, 2012 Published on July 09, 2012

Medfort Hospitals and LV Prasad Eye Institute (LVPEI) are consultants to an eyecare centre of excellence in Ras-al-Khaimah.

The joint project is under way and is expected to start operations early next year.

Medfort is a Chennai-based healthcare outfit in which TVS Capital Funds and ePlanet Ventures have invested. LVPEI is a Hyderabad-based eyecare specialist.

Medfort and LVPEI will act as operational partners and consultants to the Ras-al-Khaimah project, in which the ruler of Ras-al-Khaimah is investing Rs 25 crore.

While Medfort will bring in the latest in refractive and lasik technologies, LVPEI will be involved in community screening, human resource (doctors and paramedics) training and development, said Mr G. S. K Velu, Chairman, Medfort Hospitals.

“Construction is on and we expect to start operations by January 2013,” said Mr Velu, who is also the owner of medical equipment company Trivitron.

The 20,000 sq ft eye-care wing will be a part of the super-speciality RAK Hospital. The hospital is keen to bring in “cost-effective” eyecare in the region through this partnership; it also wants to emerge as a medical tourism hub, especially in lasik technology, said Mr Velu. “Eyecare in the region is pretty expensive — compared to India it is 5-10 times more.”

Franchise model

Medfort is also exploring the franchise model in central and eastern Africa. “We are in advanced stages of closing contracts with potential partners.”

In India, Medfort operates 16 eyecare hospitals across Chennai, Delhi and Andhra Pradesh – under the ‘Maxivision’ brand name. (Maxivision was originally a Hyderabad-based eyecare chain which Medfort Hospitals acquired.) Medfort also runs a diabetes centre in Chennai.

By the year-end, Medfort plans to have 30 eye hospitals across the country.

TVS Capital, ePlanet Ventures and promoters have pumped in Rs 90 crore so far in the venture.

Published on July 09, 2012
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