Ophthalmology is seeing consolidation, says Centre For Sight’s Chairman and Medical Director, Dr Mahipal Singh Sachdev, outlining plans for organic and inorganic growth.

CFS is network of opthalmology centres and it has further expanded its presence in Maharashtra through a collaboration announced on Wednesday with Laxmi Eye Hospital. This would increase its presence in the State to nine centres, through three acquisitions and a collaboration, undertaken earlier by the company. It is looking to invest ₹300-500 crore over the next few years to support expansion, the company said.

Pointing to the consolidation in opthalmology, Sachdev told businessline that CFS was looking to add 15 centres annually, through an equal mix of acquiring existing centres and setting up new ones. The segment is seeing a churn, in the absence of a next-gen in older centres; as young opthalmologists seek partners, they do not want to deal with other administrative issues, he explained.

Expansion Plans

CFS had seen an infusion of up to $100 million in May 2024 from private equity ChrysCapital , according to recent reports. ChrysCapital purchased the stake held by Mahindra Holdings . Presently, the promoter family (Dr Sachdev’s) holds about 57 per cent in the company, he said. CFS looks to end March 2025, with an estimated turnover of ₹625 crore, he added.

CFS aims to reach 150 centres in the about four years. Raghav Ramdev, Managing Director, ChrysCapital, said in a statement, healthcare in the country was a key focus for it, given the underserved market.

With 82 centres across 15 States , CFS covers over a million patients annually, and Laxmi Eye Hospital covers over 2.5 million patients across four locations in the State. .

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