Dr. Agarwal's Group of Eye Hospitals plan pan-India expansion
The Chennai based Dr.Agarwal's Group of Eye Hospitals, one of the fastest growing single specialty eye chains in the country, is planning a major pan-India expansion.
- Jun 20, 2017,
- Updated Jun 20, 2017 1:59 PM IST
The Chennai based Dr.Agarwal's Group of Eye Hospitals, one of the fastest growing single specialty eye chains in the country, is planning a major pan-India expansion. The group is planning to invest over $200 million to set up another 80-90 hospitals within the next four years, said Dr. Adil Agarwal, Chief Executive of Dr. Agarwal's Group of Hospital.
Dr.Agarwal's Group of Eye Hospitals is one of the pioneers in exclusive eye care in the country, with its first hospital founded in Chennai in 1957 by Dr. Jaiveer Agarwal. The hospital remained as a standalone hospital for three generations till 2006 when Dr Adil, a fourth generation eye surgeon from the family, decided to develop it as a chain. Currently Dr Agarwal's Eye Hospitals has 72 hospitals - 56 in India and 15 in Africa and one in Cambodia.
The Indian eye care market is estimated to be between $1.5-$2 billion and leading chains include Vasan Eye care, Maxivision, ASG, Centre for Sight, Eye-Q and Narayana Netralaya. According to the World Health Organization, India has an estimated 12 million blind people and additional 450 million people who require vision correction.
As per CRISIL, owing to the rising proportion of ageing population, high prevalence of eye disorders, innovative models for improving penetration of medical facilities, increasing disposable income and rising insurance penetration, the eye care delivery market is expected to reach $4.4 billion by 2020, with a compounded annual growth rate (CAGR) of 12 per cent over FY15-FY20.
Dr. Adil said new hospitals will soon start in Kerala, Maharashtra, Gujarat and West Bengal. Dr.Agarwal's hospitals are currently based mainly in Tamil Nadu and the coastal states in East India. In 2016, they had received $45 million (around Rs 305.7 crore) from Hong Kong-based private equity firm ADV Partners (ADV) and Rs 60 crore in 2011 from Evolvence Capital.
Dr Adil said that currently ten hospitals in the chain are tertiary care hospitals with a hub and spoke model. Each of the hospital requires about $2 million investment. The infrastructure will include 20-25 staff which can cater to 100 patients a day.
The Chennai based Dr.Agarwal's Group of Eye Hospitals, one of the fastest growing single specialty eye chains in the country, is planning a major pan-India expansion. The group is planning to invest over $200 million to set up another 80-90 hospitals within the next four years, said Dr. Adil Agarwal, Chief Executive of Dr. Agarwal's Group of Hospital.
Dr.Agarwal's Group of Eye Hospitals is one of the pioneers in exclusive eye care in the country, with its first hospital founded in Chennai in 1957 by Dr. Jaiveer Agarwal. The hospital remained as a standalone hospital for three generations till 2006 when Dr Adil, a fourth generation eye surgeon from the family, decided to develop it as a chain. Currently Dr Agarwal's Eye Hospitals has 72 hospitals - 56 in India and 15 in Africa and one in Cambodia.
The Indian eye care market is estimated to be between $1.5-$2 billion and leading chains include Vasan Eye care, Maxivision, ASG, Centre for Sight, Eye-Q and Narayana Netralaya. According to the World Health Organization, India has an estimated 12 million blind people and additional 450 million people who require vision correction.
As per CRISIL, owing to the rising proportion of ageing population, high prevalence of eye disorders, innovative models for improving penetration of medical facilities, increasing disposable income and rising insurance penetration, the eye care delivery market is expected to reach $4.4 billion by 2020, with a compounded annual growth rate (CAGR) of 12 per cent over FY15-FY20.
Dr. Adil said new hospitals will soon start in Kerala, Maharashtra, Gujarat and West Bengal. Dr.Agarwal's hospitals are currently based mainly in Tamil Nadu and the coastal states in East India. In 2016, they had received $45 million (around Rs 305.7 crore) from Hong Kong-based private equity firm ADV Partners (ADV) and Rs 60 crore in 2011 from Evolvence Capital.
Dr Adil said that currently ten hospitals in the chain are tertiary care hospitals with a hub and spoke model. Each of the hospital requires about $2 million investment. The infrastructure will include 20-25 staff which can cater to 100 patients a day.