Eye-Q to invest up to Rs 120 cr to open 40 new hospitals

Super-speciality eye-care chain Eye-Q will invest up to Rs 120 crore to open 40 new hospitals by the end of next financial year as it looks to expand its presence across the country.

Eye-Q, which currently operates 30 super speciality eye hospitals, is planning to open the new hospitals in tier II and tier III towns in states of Punjab, Gujarat, Haryana and Uttar Pradesh.

"We will be investing up to Rs 120 crore to open 40 new hospitals by the end of next fiscal across towns in northern and western regions of the country," Eye-Q Founder and CMD Ajay Sharma told PTI.

He was speaking on the sidelines of the launch of the company's centres of excellence for Glaucoma and Retina.

Asked how the company plans to raise finances for its expansion, Sharma said: "It will be through internal accruals, money in hand and equity."

The company plans to focus on tier II and tier III towns for growth and expansion.

"As part of growth strategy, our focus is not on metros and tier I towns. We plan to open the hospitals in tier II and tier III towns. Our focus is to provide advanced eye care medical services at affordable prices," he added.

The company is looking at foraying in Punjab with 10 to 12 hospitals, opening around 15 hospitals in Gujarat and four to five hospitals in Uttar Pradesh and Haryana, Sharma said.

Eye-Q hospitals offer a complete range of medical and surgical eye care and optical services to patients of all ages across all its super-speciality hospitals in the country.