The Government of Singapore Investment Corporation Pte Ltd. (GIC), through its affiliates, has invested $100 million for a minority stake in Vasan Health Care Pvt. Ltd., a specialty eye and dental care company.
Following this, GIC has joined other two investors — Sequoia Capital and Westbridge Capital — who have invested in Vasan.
A. M. Arun, Chairman and Managing Director, Vasan Health Care, said with the infusion of fresh funds, the total capital would go up to Rs.500 crore. GIC's investment would help Vasan expand its network of eye and dental hospitals.
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The funds raised would be used for both organic and inorganic acquisitions. At present, Vasan eye care centre has 102 units. This will go up to 125 by April-end and further to 165 centres by March next year.