NephroPlus raises Rs 100 Cr in Series C funding led by SeaLink Capital Partners and IFC
Dialysis provider NephroPlus has raised Rs 100 Crore in a Series-C funding. The round was led by Mumbai-based private equity firm SeaLink Capital Partners and existing investor International Finance Corporation, a member of the World Bank Group. With the major amount being put in by SeaLink Capital, it now has a minority stake in the company. With this Heramb Hajarnavis, managing partner of Sea-Link Capital, will join the board of directors of NephroPlus.
The funding raised via this round will be used to expand to 500 centres over the next five years. The venture currently has almost 100 dialysis centres. With this expansion, their aims is to provide over four-million treatments per year and create around 5,000 skilled health-services jobs. Vikram Vuppala who is the founder of NephroPlus said in a statement:
“This is the biggest investment we have received so far,..We are looking at expanding aggressively and also plan to open centres internationally within the next one year…The manufacturer of dialysis machines is coming up with innovative financing schemes, with a pay-as-you-use model, which, along with the current funding, our accruals and the debt round with Sidbi, will help us reach our goal of 500 centres in the next five years,”
In India, there are around 12-15-lakh ESRD (End Stage Renal Disease) patients with 1-1.5 lakh new cases getting added every year. This number being fuelled by increased incidence of diabetes and hypertension. Despite of this high number, only 10% of them have access to treatment facilities. This is the huge gap that NephroPlus is out to fill.
Heramb Hajarnavis said in a statement:
“We have been very impressed with how the team has scaled up their network of dialysis centres over the last few years while retaining a sharp focus on the quality of care,…We look forward to working with Vikram and other members of the management team as they further expand their presence across India and address a crucial healthcare need for millions of people.”