Healthcare & Life Sciences
VedaCorp advised Dr. GSK Velu, promoted Maxivision Eye Hospital, on its upto INR 1300 Crores Private equity investment from Quadria Capital
About
Maxivision Eye Hospital
Maxivision was founded by Dr. KP Reddy in 1996 and subsequently acquired by Dr. GSK Velu in 2010. It is one of India’s fastest growing eye care chains, offering quality, affordable eye care services to over 5 million patients. As one of India’s first operator of a LASIK machine, Maxivision has a long history of focusing on clinical excellence, while making quality eye care services available to tier 2 and tier 3 cities in India.
Quadria Capital
Founded in 2012, Quadria is an Asia healthcare-focused private equity firm with an AUM of over US$3.4 billion, maximising returns by investing in the high growth healthcare sector in South Asia and S.E. Asia. Quadria has a strong track-record of successful investments in some of India’s leading single specialty healthcare companies including AIG, a leading global referral centre for gastroenterology and HCG, India’s leading oncology network.
Background
We are pleased to announce that Maxivision Eye Hospital (“Maxivision”), has raised up-to INR 1300 crores of Private Equity Investment from Quadria Capital, one of Asia’s largest healthcare-focused Private Equity firms.
Quadria will make an initial investment of around INR 600 crores for a minority stake and a further investment of up-to INR 700 crores for additional stake, representing one of the largest investments in the eye care services space, to support Maxivision’s organic expansion and inorganic growth and cement its position as one of India’s leading eye care platforms.
Founded in 1996, Maxivision operates 42 centres in five states across South and West India, with a leadership position in Andhra Pradesh and Telangana. The company offers a full suite of eye care services, including cataract surgery, LASIK and ReLEx Smile treatments, treatments for retinal issues and glaucoma, oculoplasty, as well as neonatal and paediatric eye care.
Veda Corporate Advisors (“VedaCorp”) were the exclusive financial advisors to the Company and Promoters on this transaction. This is VedaCorp’s 47th transaction overall in the healthcare & life sciences space and 8th transaction in the last 12 months reaffirming our position as one of pre eminent health care investment banks.
“It has been a pleasure working with the founder Mr. Venkat & VedaCorp team for over 15 years in 9 different transactions for raising growth capital for our group companies. The passion, hard-work and commitment shown by VedaCorp team members in understanding the domain and forging win-win partnership between promoters & investors in diversified sectors is highly commendable, making them one of the best and trust-worthy investment banking firm in the country”
Dr. GSK Velu
Promoter and Chairman, Maxivision
“This is our 9th transaction for Dr. GSK Velu Group, over a 15 year plus span, straddling across medtech, diagnostics, multi-specialty and eye care. We are grateful to Dr. Velu and Mr. Ganesan for continuing to repose confidence in VedaCorp and trusting us time and again”
C. Venkat Subramanyam
Founder, Veda Corporate Advisors
“Maxivision has grown from a regional powerhouse to top 3 player nationally. With best-in-class healthcare practices, enviable team of doctors & strong brand recall, we are confident that the Quadria investment will further accelerate its growth and expand its footprint into other geographies”
Sivaraj Sekhar
Managing Director, Veda Corporate Advisors