Medfort Hospitals merges with Maxivision

Medfort Hospitals Pvt Ltd on Tuesday announced its merger with Hyderabad-based Maxivision Eye Hospitals. The company executive refused to reveal the transaction value.

With this, Medfort-Maxivision would emerge as a network of 12 eye hospitals, with presence in the six cities of Hyderabad, Chennai, Delhi NCR, Vizag, Vijayawada and UAE.

All the eyecare operations of Medfort group are being rebranded as Maxivision Eyecare and Maxivision Lasik Suites across India.

Medfort Hospitals chairman GSK Velu expressed hope that the network is expanded to include 50 hospitals in 20 cities within the next 12 months.

He said the company was planning to raise around Rs 30 crore from investors and from the promoter.

The company had raised Rs 60 crore from TVS Shriram Growth Fund (TSGF) and E Planet Ventures, and another Rs 10 crore was invested by the promoter Velu.

The company which closed last fiscal with a turnover of around Rs 60 crore, has set a target of Rs 100 crore for the next fiscal.