ASG Eye Hospitals, the eyecare hospital chain, has secured Rs 308 crore from a clutch of investors led by Foundation Holdings. The fresh capital will be used ny the company to grow organically and inorganically.
ASG Eye Hospitals was founded by Dr. Arun Singhvi and Dr. Shashank Gang in 2005. Venture Capital fund Sequoia Capital and IDFC-backed firm has 33 centers in India, Africa and Nepal.
Sequoia infused $11 million in the company over two tranches in 2012, while in 2017, IDFC invested Rs 75 crore in the company.
Aakash Sachdev, Managing Director of Foundation Holdings, said, “This investment will allow ASG Hospitals to pursue organic and inorganic expansion strategies to facilitate the consolidation of the highly fragmented eye healthcare services sector, a $4.4 billion opportunity in India alone. Bringing its industry-leading full-service hub offering to its regional partners will result in service offering enhancements for the patients in these micro-markets.”
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