Nova Specialty Surgery has embarked on a major expansion spree and intends to expand its footprints across India. Suresh Soni, Chairman and CEO, Nova Medical Centres spoke to Lakshmipriya Nair, Express Healthcare and informed, “We plan to establish 8-10 centres in cities across India including cities like Jaipur, Kolkata, Chennai, Ahmedabad in a time span of 10-12 months. Plans are afoot to set up another 8-10 centres in the next year as well.”
Nova’s expansion plans have received a boost in the form of the Rs 300 crore PE investment that has come in from renowned investment banking firm Goldman Sachs and venture capital firm New Enterprise Associates (NEA). This investment would be used to set Nova’s expansion plans into motion and diversify its business of specialty surgery and fertility business. While Rs 220 crore would be offered by Goldman Sachs the rest of the amount would be contributed by NEA.
“This landmark investment from Goldman Sachs and NEA will accelerate the expansion of Nova’s footprint across the country both organically as well as through acquisitions. This will ultimately better serve India’s healthcare delivery services industry, surgeons and, most importantly, patients,” informed Soni through a company release which also revealed that Ankur Sahu, Co-Head of private equity in Asia at Goldman Sachs and Harsh Nanda, Executive Director at Goldman Sachs, will join the Board of Nova.
On being quizzed by the Express Healthcare correspondent on any more such investment deals in the offing, Soni replied that Nova is not looking for any more investments at the moment.
The healthcare has become very attractive for PE funding and so far $521 million has been raised through 16 deals until June this year. This deal adds to this number and reiterates this growing trend.
EH News Bureau
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