Mewar Orthopaedic Hospital raises Rs 30 crore from Matrix Partners India

Thursday, November 29, 2012

Udaipur: Private equity firm Matrix Partners India has invested around Rs 30 crore in Mewar Orthopaedic Hospital, a group that runs specialised units for surgical orthopaedics.

Matrix will take an approximate 20 per cent stake in the hospital chain that operates six centres across cities including Udaipur and Bhilwara in Rajasthan; Neemuch and Ujjain in Madhya Pradesh; and Modasa in Gujarat.

The group plans to add on three more specialised care units by the end of this fiscal year. Immediate expansion plans for Mewar include setting up a 100-bed centre of excellence in Udaipur and increasing its footprint in Central India with centres in Sirohi, Mandsaur and Chittorgarh.

“Our focus is to cater to patients in smaller towns and cities, where there is a dearth of orthopaedic and allied care facilities,” said Dr Manish Chhaparwal, co-founder, Mewar Orthopaedic Hospital.

“Specialty healthcare service is an important area as they satisfy a growing demand for affordable and quality care for Indian consumers,” said Avnish Bajaj, co-founder and managing director, Matrix India.

Matrix Partners India, an investment firm with Rs 3,000 crore under management, has invested in several companies including Delhi-based eye-care chain Centre for Sight and Bangalore-based Kids Clinic India, a leading provider of maternity and infant care facilities under the brand Cloud Nine. [Source: ET]

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