Tata Capital Healthcare Fund II (TCHF II) has invested up to $10 million in Apex Kidney Care (AKC), for an undisclosed equity stake in the dialysis chain.

The funds will fuel expansion across the country by AKC, touted to be the second largest dialysis chain, said a note from TCHF II, the healthcare-focused private equity fund of Tata Capital.

India is estimated to have two million Chronic Kidney Disease (CKD Stage 5 patients - where the kidney function is below 15 percent), the note said. About 21 million dialysis sessions are undertaken annually, estimated to be an abysmal 11 percent of the overall annual need of the country, it noted.

AKC provides kidney care and dialysis services across a chain of dialysis centres and is owned and managed by group of nephrologists. It operated 180 centres across 120 cities.

Vamesh Chovatia, Partner, Tata Capital Healthcare Fund II, said the country needed many more Apex-kind of organisations to deliver dialysis services and effectively address the healthcare need gap in the industry. Jatin Kothari, Co-founder and Director, Apex Kidney Care, added the partnership underscored the value of their business model in delivering quality dialysis services.

TCHF has raised about $200 million across two funds - TCHF I (2012) and TCHF II (2022). Across both the funds, TCHF has invested in 16 companies, and successfully exited six companies, the note said.

Published on October 11, 2023