IFC, SeaLink invest $15m in Indian clinic chain

The company will use the new capital to support its expansion plans; it aims to have 500 clinics nationwide in the next five years, up from its current level of 65, performing four million treatments per year. SeaLink managing partner Heramb Hajarnavis will also join the NephroPlus board.

More than 1.2 million people in India suffer from end stage renal disease (ESRD), and over 100,000 new cases are reported every year. However, only 10% of ESRD patients currently have access to treatment. NephroPlus has partnered with several local and state governments to address this shortfall, including a recently announced agreement to run 13 treatment centers in Andhra Pradesh.

"Securing the backing of a leading investor like SeaLink is an important milestone for NephroPlus and a strong validation of the impact that NephroPlus has been creating in the dialysis space in India," said NephroPlus founder and CEO Vikram Vuppala, in a statement. "We are confident that SeaLink's unique network as well as their approach towards growing and building value collaboratively with entrepreneurs will help us further in our growth."

NephroPlus was founded in 2009, raising INR2 billion in angel funding followed by a INR230 million round from Bessemer Venture Partners (BVP) in 2011. BVP and IFC committed INR600 million in Series B funding in 2014.

SeaLink was founded in 2014 by Hajarnavis, a former director and leader of KKR's private equity business in India. The firm seeks investments in high-quality, mid-sized businesses in India, focusing on the consumer products and services, financial services, healthcare, technology and manufacturing sectors.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• South Asia
• Healthcare
• Expansion
• Growth
• India
• IFC
• SeaLink Capital Partners