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Thursday, January 14, 2016

Dr Agarwal’s Eye Hospital to invest Rs 600 cr for expansion

Dr Agarwal’s Eye Hospital chain announced that it is looking to invest Rs.600 crore for the purpose of expanding its operations in the country as well as overseas over the coming 60 months. At present, the hospital chain has 60 hospitals and is looking to l add 140 by 2020. Commenting on this, Amar Agarwal, Chairman and Managing Director said, “The investment will happen in two phases. Since our debt is low, around Rs.20-25 crore, we will raise more funds through debt, internal accruals and private equity.” The chain is targeting a total of 200 hospitals with 150 in India and 50 in Africa, West Asia, Vietnam, Cambodia and the Philippines. Agarwal said, “We are planning to continue our expansion in the East and West of India.” The chain recently commenced its operation in Kolkata co-branding with Peerless Hospital, a well-known hospital chain there, taking over its eye care operations. We are looking at organic and inorganic growth,” Agrawal said and added that they are looking at Gujarat, New Delhi, Maharashtra and Punjab for the next stage of development.”