![](https://www.hospitalmanagement.net/wp-content/uploads/sites/9/2024/07/Eyefoundation-15July2024shutterstock_1981542395-430x241.jpg)
The Eye Foundation, an India-based speciality hospital chain, is in the preliminary stages of raising $100m from private equity funds, reported MoneyControl, citing four sources.
The company is seeking to sell a minority stake as it plans to tap into the investor interest within the speciality space.
“The Eye Foundation is looking to raise around $100m and attract a suitable private equity player,” said a source familiar with the matter.
Another source highlighted The Eye Foundation’s robust clinical quality and financial performance, describing it as one of the most profitable entities in the sector.
Investment bank Veda Corporate Advisors has been appointed to advise on the transaction, according to a third informant.
Further details suggest that The Eye Foundation, headquartered in Coimbatore, may be considering this fundraising as part of a pre-IPO round, though no timelines for a potential listing have been disclosed.
The Eye Foundation Group of Hospitals chairman Dr D Ramamurthy declined to comment on the capital raise plans, reported the media outlet.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
![](/wp-content/themes/goodlife-wp-B2B/assets/images/company-profile-unit.png)
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe Eye Foundation’s website boasts a nearly three-decade track record, with a presence in over 21 cities across Indian states of Tamil Nadu, Kerala, and Karnataka.
“We were among the first to introduce laser eye surgery both in laser refractive surgery as well as laser cataract surgery,” the website states, also noting compliance with NABH standards.
This move comes as the Indian eye care segment has seen significant private equity investments in the past two years, with firms such as ChrysCapital, TPG Growth, Temasek, showing active interest.
ChrysCapital invested up to $100m in New Delhi-based Centre for Sight in May, a combination of primary issuance and secondary share sales. Additionally, in August 2023, Dr Agarwal’s Health Care secured approximately $86.6m from TPG Growth and Temasek, following a previous $140m investment from the same investors.