Dr. Agarwals Eye Hospital, which operates a chain of eye hospitals in India, is planning to invest Rs7.3bn ($88.3m) to open 38 new hospitals as well as create 100 primary eye care centres across the country over the next three years, The Hindu reported.
The company plans to invest Rs1bn ($12.1m) across various Indian states including Tamil Nadu, Maharashtra and Kerala as part of its expansion.
In the state of Gujarat, it plans to invest Rs1.5bn ($18.1m).
Dr. Agarwals Eye Hospital CEO Adil Agarwal was quoted by the news agency as saying: “As part of our expansion strategy, we will open 35 more hospitals in India and one each in Tanzania, Kenya and Nigeria.”
In Tamil Nadu and Gujarat, the company plans to build ten hospitals each, while in Maharashtra, it intends to create around 15 hospitals.
Health care facilities in Gujarat and Maharashtra will be built over the next 12 months, while it is expected to take some time to set-up hospitals in Tamil Nadu.
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For this expansion, the company would receive Rs0.80bn ($9.6m) through overseas investments.
Recently, the company is said to have raised Rs10.5bn ($127m) from TPG Growth to support its expansion plans.
Adil Agarwal added: “In addition, we are planning to setup 100 primary eye care centres, under the brand of 20|20 Eye Care by Dr Agarwal’s, across Tamil Nadu – including eight in Kanyakumari district, during the same period.”
Currently, Dr. Agarwals operates 135 hospitals, of which 114 are in India, while the others are located in Ghana, Kenya, Mauritius. It also operates hospitals located in Madagascar, Mozambique, Nigeria, Tanzania, Rwanda, Uganda, and Zambia.