Dr Agarwal's Healthcare raises Rs 160 cr from ESOF

Eye care chain Dr Agarwal's Healthcare has raised Rs 160 crore from Edelweiss Special Opportunities Fund (ESOF) II to be used for its expansion plans.

The company aims to use the money to grow its network from the current 70 centres to 150 by 2020, Dr Agarwal's Healthcare said in a statement.

CEO Adil Agarwal said: "We are thrilled to have ESOF on board as investors as we continue to increase our pan India presence by launching hospitals in newer geographies such as within India as well as abroad".

The company is looking at entering Madhya Pradesh, Uttar Pradesh, Bihar and Jharkhand and also launching its first hospital in the Middle East, he added.
 

"We are also planning to strengthen our presence in the existing geographies, especially in Maharashtra, West Bengal, Gujarat and Kerala," Agarwal said.

The company also plans to invest in research and development initiatives, he said.