Mahindra Partners will invest over Rs 206 crore in Delhi-based Centre for Sight (CFS). The investment is expected to help the institute consolidate its leadership position in the growing Indian ophthalmology healthcare segment.
As part of this transaction, the promoters have further invested Rs 20 crore and early investor Matrix Partners India fully exited its stake in the CFS. A total of Rs 226.5 crore has been invested, in a mix of primary and secondary investments by Mahindra Partners and the promoters of CFS.
“We are excited to partner with the Centre for Sight as it enters its next phase of growth,” said Parag Shah, Managing Partner at Mahindra Partners. “It is a leader in ophthalmology in India and we want to be a part of its evolution into the dominant Indian eye care brand,” he added.
Mahipal S. Sachdev, CMD of CFS, said: “Our focus on the principles of efficiency, precision, integrity and compassion has brought us from a single small set-up to a proud chain with state-of-the-art ophthalmic care facilities.” Sachdev added: “Our association with Mahindra Partners will help us sustain the scorching pace of growth we have set out for ourselves, enabling us to open new centres in our existing territories as well as in areas lacking quality eye care and also to drive growth through strategic acquisitions of existing practices,” he further added.
Parag Shah said: “Centre for Sight fits into our larger healthcare strategy which is focused on the delivery side with a bias towards single specialty. This new investment aligns with the demographic catered to by our first healthcare investment, Medwell Ventures, which operates a home healthcare chain under the Nightingales brand.”