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Nephroplus takes over DaVita Care India

Press Trust of India  |  Hyderabad 

service provider Mondayannounced the acquisition of Care India, which runs care centers.

NephroPlus, which has 154 centres in 92 cities across would foray into global markets and open about 20 centres over the next one year in two countries in South East Asia and Middle East, Founder and Vikram Vuppala told reporters here.

Under the terms of the agreement, would acquire Care India's network of 22 centres.

With this acquisition, Nephroplus would further strengthenits servicing capacity and would have a presence in 18 states of with 176 centers across 97 cities, Vuppala said.

Declining to divulge the cost of acquisition, Vuppala said it was "confidential."

NephroPlus clocked a turnover of Rs 150 crore last fiscal and is aiming for about Rs 200 crore turnover by this financialyear end, he said adding Care turnover was Rs 50 crore.

Since inception in March 2010,NephroPlushas raised Rs 200 crore in series A, B and C funding and is in the process of raising series D funding in the range of Rs 130-150 crore for itsinternational expansion.

"Post this (DaVita Care India) acquisition we will be launching in two countries in and over the next three to six months and we also have plans for acquiring existing small in India and international market," Vuppala noted.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 05 2018. 15:55 IST