May 7, 2024: Quadria Capital. a PE focussed on healthcare has invested RS.850 Cr in Nephroplus, a dialysis clinics firm, including a significant minority stake in the company. Quadria has made 18 investments across 7 nations, and manages over $1.5 billion managed assets.
The dialysis firm plans to invest the fresh capital infusion to tap new avenues of growth and to expand its market position, further seek new acquisitions in the future, the company said in a statement.
Founded in 2010 by Vikram Vuppala along with Kamal D Shah and Pullaiah Vuppala, the dialysis clinic chain has garnered $208 million uptill date in multiple rounds, according to markets data research platform Tracxn.
The firm earlier raised $24 million in a Series E round of funding led by IIFL AMC in December 2021. “Our business has evolved tremendously over the past few years and today we are proud to be one of the fastest growing and most trusted providers of high-quality dialysis to around 30,000 patients,” said Vikram Vuppala, Founder and CEO of the dialysis clinic network firm, in a communique.
Nephroplus chalks out aggressive expansion plans
Vruppala added, “We look forward to expanding in India, our core market, while exploring further opportunities to bring our expertise and clinical excellence to more patients in other global markets.”
The firm presently operate 450 dialysis sites spanning 250 towns and cities across India, Philippines, and Uzbekistan. It has also formed a JV with Saudi Arabia-based Tibbiyah to strengthen its position for the entity’s dialysis service in September 2023.
Dialysis Clinics chain had earlier bought Bengaluru-based DaVita, a chain of dialysis clinics, and Royal Care Dialysis Centre in the Philippines. “Quadria’s investment in NephroPlus underscores our ambition to invest in regional champions of Asian healthcare, who are providing high-quality, affordable healthcare to large, under-served populations.
NephroPlus continues to establish its strengths to improve health outcomes for its patients, while maintaining industry-leading growth and profitability,” said Sunil Thakur, Partner and Head of South Asia at Quadria Capital. Avendus Capital acted as the advisor to the dialysis clinic network firm and its shareholders as part of the deal.
The latest investment round involved both primary and secondary components, with the private equity firm purchasing shares from existing stakeholders.
