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Nephroplus plans 40 new dialysis centres
Nephroplus plans 40 new dialysis centres. City-based Nephrocare Health Services Pvt Ltd, which operates a chain of dialysis and kidney care clinics across India under Nephroplus brand, is looking to nearly double its network from the present 45 centres to around 85 during the current fiscal. It also plans to raise additional funding of more than $10 million in a series-B round in the next six months.
To raise over $10 million in next six months to fund its future expansions
Hyderabad: City-based Nephrocare Health Services Pvt Ltd, which operates a chain of dialysis and kidney care clinics across India under Nephroplus brand, is looking to nearly double its network from the present 45 centres to around 85 during the current fiscal. It also plans to raise additional funding of more than $10 million in a series-B round in the next six months.
“At present, we have a total of 45 centres across 14 states in India. Our plan is to expand rapidly as there is huge demand for dialysis centres due to large diabetic population in the country. We will double the network to around 85 centres during the current fiscal,” Vikram Vuppala, founder and CEO, Nephrocare Health Services, told The Hans India.
The company will also foray into West Bengal state, taking the total number of states it operates in to 15. “Response is good for our services across the country as we provide dialysis services at affordable rates. We have increased our charges by not more than 1 to 2 per cent in last two years even though inflation is over 8 to 10 per cent,” he said.
Asked how the company would fund the expansion, Vuppala said the company had enough funds for setting up the new centres. Nephroplus raised $10 million (nearly Rs 64 crore) in series B round from International Finance Corporation (IFC) and Besser Venture Partners (BVP) in June 2014 and it would use a part of this fund for the expansion. In 2011, BVP invested $4.25 million in the company in a series A round for an undisclosed equity stake.
On the fund raising plans, he said Nephroplus is the process of raising more funds in the series B round. “We are planning to raise additional funding which will be more than $10 million. We have already appointed investment bankers and the deal will be closed in next six months,” he explained. Nephroplus is also adopting novel strategies to expand its services. One such initiative is setting up centres in tourist and pilgrimage centres.
“Already, we had set up centres in Alleppay in the backwaters of Kerala, Agra and Dehradun. Besides, we also opened two centres in the temple town of Tirupati. All the centres are doing extremely well,” he stated. The company set up first dialysis centre in Jubilee Hills area of Hyderabad in 2010 before expanding on the rapid expansion. “Our plan is to have a total of 250 centres over the next few years,” Vuppala added.
By P Madhusudhan Reddy
