(Reuters) – Singapore-based private equity firm Quadria Capital said on Wednesday it will invest up to $155 million in India’s Maxivision Eye Hospital.
Quadria, which focuses on healthcare investments around South and Southeast Asia, said it will make an initial investment of about $75 million for a minority stake and a further investment of up to $80 million for additional equity.
Quadria did not provide a timeline for the investment.
The investment is to “support Maxivision’s ability to scale and serve the growing demand for eye care in India, particularly in tier-2 and tier-3 cities that remain underserved by the Indian eye care market,” the private equity firm said.
Maxivision offers eye care services to over five million patients in 42 centres across six states in southern and western India.
Quadria Capital has previously invested in other Indian healthcare and pharmaceutical companies such as MediBuddy, Akums Drugs and Pharmaceuticals and Strand Life Sciences, according to their website.
(Reporting by Echha Jain in Bengaluru; Editing by Nivedita Bhattacharjee and Janane Venkatraman)
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