Plans to invest Rs 350 crore rupees over next two years to build a 1500 bed hospital network
Uttar Pradesh’s healthcare chain, Regency Healthcare has raised approximately $14 million from a consortium of leading global investors, IFC, Healthquad and KOIS. Reportedly, the healthcare chain will utilise this corpus to fund its expansion in the state and offer quality healthcare services at an affordable price. This is possibly the first investment by any private equity fund in a UP-based company.
Dr Atul Kapoor, Chairman and Managing Director, Regency Healthcare, said, “Regency has a clear plan to grow to 1500 beds and consolidate its position as a leader and preferred healthcare provider to patients across the state of Uttar Pradesh. Over the course of the next two years, we plan to invest in excess of Rs 350 crores to add new hospitals and clinics across important locations in Central and Eastern UP, besides equipping them with advanced clinical and technological capabilities. We also plan to add 15 new dialysis treatment centres, for which we have an exclusive joint venture with Fresenius, world’s leading kidney care player.”
“IFC supports Regency’s mission to provide access to affordable, quality healthcare in the under-served and densely populated state of Uttar Pradesh,” said Matt Eliot, IFC’s Principal Investment Officer.
Dr Amit Varma, Sponsor of Healthquad, said, “Regency represents a unique opportunity to work with a strong clinical and management team to improve the access to high quality care across a trusted hospital network in India’s largest state of Uttar Pradesh.”
Adding to that, Charles Antione Janssen of KOIS stated, “We have reposed our confidence in Regency to be at the forefront of providing the best medical service to the population of Uttar Pradesh. Uttar Pradesh seems to have been neglected by leading private players and in the process left a fertile ground for a local player like Regency to create an impact driven healthcare model.”