Dr Agarwal's Group of Eye Hospitals raises Rs 215 crore from CDC Group

Eye Hospitals chain Dr Agarwal's Healthcare on Wednesday said it has raised Rs 215 crore of debt from the UK government-funded development finance institution, CDC Group.

The money would be used to expand the geographical footprint of the eye care chain across India, Africa and South Asia along with significant investments in the latest technology for super-specialty eye care, Dr Agarwal's Healthcare said in a statement.

Earlier this year, the company had raised Rs 270 crore from global investment firm Temasek, it added.

"The investment will be used to support the business through its next phase of growth, including the acquisition of small hospitals and chains. With CDC's focus on Africa and South Asia, the group is looking to bolster its international presence," Dr Agarwal's Group of Eye Hospitals CEO Adil Agarwal said.

The company is also looking to expand aggressively in Maharashtra, Kerala and central India besides penetrating deeper into our existing markets. It will also be investing more in cutting-edge technology, he added.

"Our more than 70-year track record of investing responsibly across Asia and Africa will help drive Dr Agarwal's Group's expansion plans," Srini Nagarajan, managing director and head of Asia, CDC Group, said.

CDC Group is a development finance institution funded by the UK government, the statement said.

Started in 1957, Dr Agarwal's Group of Eye Hospitals currently has a total presence of 91 hospitals with 77 centres in India and 14 hospitals in Africa.