Mahindra Partners, the private equity company of the Mahindra Group, has announced an investment of ₹206.5 crore in New Delhi based-Centre for Sight Ltd. (CFS).
This investment would help CFS drive its organic and inorganic growth and consolidate its leadership position in the growing Indian ophthalmology healthcare segment, according to a statement from the company.
As part of this transaction, the promoters have further invested ₹20 crore and early investor Matrix Partners India has fully exited from CFS. A total of ₹226.5 crore has been invested, in a mix of primary and secondary investment, by Mahindra Partners and the promoters of NDCFS.
“Centre for Sight is a leader in ophthalmology in India and we want to be a part of its evolution and growth into the dominant Indian eye care brand,”said Parag Shah, managing partner at Mahindra Partners.
Prof. (Dr.) Mahipal S Sachdev, the CMD of CFS, said “Our association with Mahindra Partners will help us sustain the scorching pace of growth we have set out for ourselves, enabling us to open new centres in our existing territories as well as in areas lacking quality Eye-care and also to drive growth through strategic acquisitions of existing practices.”
CFS provides comprehensive eye care services from 44 eye care centres across 9 states and more than 24 cities in India. It has more than 145 doctors, many of whom are recognised as leaders in their respective super specialties.
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