Healthcare & Life Sciences
Dr Agarwal raised Series C funding from Temasek Holdings
About
Dr. Agarwal’s
Established in 1957, Dr. Agarwal’s is widely regarded as a pioneer in the eye care services space and has acquired market leadership position in India. Promoted and managed by an internationally renowned family of surgeons, the Group has developed an excellent team of highly skilled ophthalmic specialists and surgeons, with a focus on clinical excellence; while offering standardized care, best-in-class technology and a relaxing experience to patients.
Temasek
Incorporated in 1974, Temasek is a global investment company headquartered in Singapore. Supported by a network of international offices in 11 locations in Asia, Americas and Europe, Temasek manages a USD 235 Bn portfolio, with two thirds underlying exposure to Singapore and the rest of Asia. Its investment activities are guided by four key themes and the long-term trends that represent transforming economies, growing middle income populations, deepening comparative advantages and emerging champions
Background
We are pleased to announce that our client, Dr. Agarwal’s Health Care Limited (“Dr. Agarwal’s”), a pioneer and market leader in eye care services, has raised Series C funding from Temasek Holdings (“Temasek”), a global investment company headquartered in Singapore. With 70+ hospitals spread across India and 10 countries in Africa, Dr. Agarwal’s is the preferred destination for the eye care needs of millions. The Group is headed by Dr. Amar Agarwal, an internationally renowned ophthalmologist with several innovations in the field of ophthalmology to his credit and recipient of several international awards.
This transaction is the largest primary investment in Indian eye care space till date and one of the largest in single specialty healthcare.
Series B investor, ADV Partners, an Asia focused private equity fund, continues to stay invested in the Company. Dr. Agarwal’s will use the funds to expand its operationns across India, Africa and Middle East.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company & its shareholders. VedaCorp provided comprehensive transaction advisory services covering strategic positioning, identification of investors, valuation, negotiation and finalization of definitive agreements, leading to the successful closure of the transaction
This is VedaCorp’s second equity transaction for Dr. Agarwal’s, following on from the Series B round with ADV Partners and is testimony to our ability to serve clients as trusted advisors time and again through their life cycle and evolve with their needs.
The “Dr. Agarwal’s Eye Hospital group” is very thankful to the team at VedaCorp for helping us close the transaction with Temasek . This is our second transaction with the VedaCorp team in a 3 year period and they have become our go-to advisors for fund raising. Their industry knowledge is remarkable and their well-entrenched network with both investors and entrepreneurs alike makes them a dominant force in the healthcare space.
Dr. Adil Agarwal
CEO & Director, Dr. Agarwal's Eye Hospital