NephroPlus Raises $24 Million In Series E So far, NephroPlus has signed up 200-plus reputed hospitals as partners for operating dialysis centres
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Dialysis network, NephroPlus, has raised $24 million in Series E round of funding to pursue growth opportunities across India and select International markets. The current round was led by IIFL Asset Management (IIFL AMC) along with investment from existing investors InvestCorp and Bessemer Venture Partners (BVP).
So far, NephroPlus has signed up 200-plus reputed hospitals as partners for operating dialysis centres including Fortis Hospitals, CARE Hospitals, Medanta and Max Healthcare. It has also set up PPP centres in partnership with state governments and operates the country's largest dialysis centre at Tirupati.
"We welcome IIFL Asset Management as our newest shareholder and it is great to see our two existing investors (InvestCorp and BVP) participating in this Series E round as well. While NephroPlus had faced a few challenges during the COVID-19 waves, our scale, diversified presence, customer connect, along with strong backward integration on costs have helped us emerge stronger overall. We look forward to not only driving organic and inorganic growth in India and overseas with this capital, but also investing in building a unique digital health solution targeted at dialysis patients," said NephroPlus founder and CEO, Vikram Vuppala.
"We are excited to partner with the dialysis market leader NephroPlus. As an integrated dialysis chain with a strong track-record of growth and returns, NephroPlus will continue expanding into new geographies in India and overseas. There are not too many unique scaled-up market leading businesses in healthcare like NephroPlus, especially with such a capable management team. We look forward to joining this growth journey with NephroPlus," said Anshuman Goenka, head private equity, IIFL Asset Management.
NephroPlus operates 275 dialysis centres in more than 170 cities across 23 states in India and is known for its quality focus and patient-centricity, added the statement.