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Dr Agarwal's Healthcare Ltd has entered into an agreement with Edelweiss Special Opportunities Fund II to raise Rs 160 crore.
The fund will be generated through a structured debt arrangement and will be used to fuel the company’s growth plans. The eye care chain aims to grow its network from the current 70 centres to 150 by 2020.
Dr Adil Agarwal, Chief Executive Officer of Dr Agarwal's Healthcare Ltd, said, “We are thrilled to have ESOF on board as investors as we continue to increase our pan-India presence by launching hospitals in newer geographies such as within India as well as abroad. In India, we are looking at entering Madhya Pradesh, Uttar Pradesh, Bihar and Jharkhand. Internationally, we will be launching our first hospital in the Middle East. We are also planning to strengthen our presence in the existing geographies, especially in Maharashtra, West Bengal, Gujarat and Kerala.”
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