City-based Dr. Agarwals Eye Hospital Ltd. is planning to invest about ₹730 crore in India and abroad over the next three years to create 38 new hospitals and more than 100 primary eye care centres.
“As part of our expansion strategy, we will open 35 more hospitals in India and one each in Tanzania, Kenya and Nigeria,” said CEO Adil Agarwal in an interview.
According to him, the hospital is focusing on emerging markets such as Tamil Nadu, Kerala, Maharashtra, and Gujarat. Tamil Nadu and Gujarat are set to get 10 hospitals each, while Maharashtra about 15 hospitals. While the new hospitals in Gujarat and Maharashtra would be set up in 12 months, those in Tamil Nadu would take a longer time.
The investment in Maharashtra and Tamil Nadu would be ₹200 crore each, Gujarat ₹150 crore and Kerala ₹100 crore for setting up 10 eye care centres. Overseas investment would be about ₹80 crore.
Asked about the funding pattern, he said recently they had raised ₹1,050 crore from TPG Growth to meet the expansion plans.
On Saturday, Hospital Chairman Amar Agarwal inaugurated a new hospital in Nagercoil, Tamil Nadu and disclosed that they were gearing up to open 10 more hospitals in tier-II cities such as Theni, Dindigul, Namakkal, Pudukottai, Karur, Ramnad, Sivakasi and Virudhunagar in South Tamil Nadu..
“In addition, we are planning to setup 100 primary eye care centers, under the brand of 20|20 Eye Care by Dr Agarwal’s, across Tamil Nadu – including 8 in Kanyakumari district, during the same period,” he said.
Currently, the eye-care chain manages 135 hospitals in its network out of which 114 are in India and the rest in Ghana, Kenya, Mauritius, Mozambique, Madagascar, Nigeria, Rwanda, Tanzania, Uganda, and Zambia..