Submits expression of interest to acquire Vasan Eye Care to strengthen footprint in south India
Hyderabad: Hyderabad-based MaxiVision Eye Hospitals is ramping up expansion into all the districts of Telangana and Andhra Pradesh and plans to enter Tamil Nadu and Kerala markets early next quarter.
MaxiVision is looking for marquee investors and private equity funds to meet the expansion needs. The investment plans will be finalised in the next 3-6 months. The company is looking at opportunities to grow through organic and inorganic routes, to strengthen its presence.
Dr GSK Velu, chairman, MaxiVision Eye Hospitals, told Telangana Today, “We have submitted an expression of interest to acquire Vasan Eye Care, which has a strong presence in the southern States. It will be a good fit as they have a strong presence in Karnataka, Tamil Nadu and Kerala. They have 94 hospitals.”
He added, “We are also in the process of concluding joint venture deals in Telangana, Andhra Pradesh, Tamil Nadu and Karnataka, the way we did in Warangal. Eye Care is a growing market. We dominate in Telangana and Andhra Pradesh. If we acquire Vasan Eye Care, we may further strengthen our footprint in the south. We are not merely looking at leadership in the south, we want to be a leader in India in eye care.”
All these years, the company has been meeting its financial needs through internal accruals. The company will go for marquee funds to go for ‘growth for leadership’. “It is time for us to bring in a marquee investor. In the next phase of expansion, we will expand into the south and in the third phase, we will focus on expanding pan-India,” Dr Velu added.
Dr Velu who also leads Neuberg Diagnostics believes that the entity will aim for stable listing for sustained growth and will not rush into a listing spree.
From a family office (investment and wealth management) perspective, he said, there are opportunities to invest in the digital health space, where startups are working on innovative platforms and solutions.