BAHRAIN – Investcorp, a leading global alternative investment firm, has announced its partial exit from NephroPlus, Asia’s largest dialysis provider, as part of a US$102m funding round led by Quadria Capital.
Despite the partial exit, Investcorp retains a significant stake in NephroPlus, reaffirming its commitment to the company’s continued growth.
Investcorp initially invested US$45 million in NephroPlus in November 2019 when the company operated approximately 180 centers in India.
Since then, NephroPlus has expanded its network to 404 centers, including over 20 centers in the Philippines and Uzbekistan.
Quadria Capital’s investment comprises a combination of primary capital infusion and a secondary stake purchase from existing investors, including Investcorp, Bessemer Venture Partners, IFC, and IIFL Private Equity.
“Our partnership with NephroPlus exemplifies Investcorp’s strategic investment philosophy, which is centered on identifying and scaling businesses with substantial growth potential,” Gaurav Sharma, Partner & Head of India Investments at Investcorp, stated.
“This is a rare example of backing an Indian healthcare delivery company to become a global player with a carefully thought-through international expansion.”
“We continue to maintain a significant minority stake and the strong conviction that the best years of NephroPlus are yet to come,” he added.
The primary capital raised in this round will be utilized towards organic growth in India and further expansion in international geographies.
In 2021, NephroPlus raised US$ 24 million (₹180 crore) in a Series E funding round led by IIFL Asset Management and existing investors Investcorp and BVP, further supporting its growth initiatives.
Founded in 2010 by Vikram Vuppala and Kamal D Shah, NephroPlus is headquartered in Hyderabad, India, and stands as Asia’s largest dialysis service provider.
The company has a commanding presence in India, operating over 400 dialysis centers across more than 200 cities in India alone, delivering over 200,000 dialysis sessions each month and maintaining a market leadership position.
Investcorp’s investments in India span across various sectors, including consumer and retail, healthcare, financial services, B2B, and technology.
Notable investments include Global Dental, Wakefit, Canpac, Xpressbees, and Freshtohome, among others.
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