Healthcare and Lifesciences
VedaCorp advises Eye Foundation, a leading eyecare chain on its USD 75 Mn fund raise from Verlinvest
About
Eye Foundation
The Eye Foundation Limited, founded and headquartered in Coimbatore, operates over 25 hospitals across Tamil Nadu, Kerala and Karnataka. The chain is known for its clinical depth in cataract, retina, LASIK, and corneal transplants, and treats over one million patients annually through a mix of high-tech tertiary centres and community clinics.
The Eye Foundation
The Eye Foundation Limited is one of South India’s top eye specialty hospitals, boasting a legacy of nearly four decades. Founded by Dr Ramamurthy, Eye Foundation treats millions of patients through its super-specialty network spanning over 25 eye hospitals in multiple cities across Tamil Nadu, Kerala and Karnataka. Recognized for pioneering technology in ophthalmology, all the hospitals strictly comply with NABH standards, ensuring top-tier quality and patient care
Verlinvest
Verlinvest is an international, family-backed evergreen investment firm focused on building the next generation of consumer brands. Established in 1995, with offices in Brussels, London, New York, Singapore, and Mumbai, Verlinvest invests across FMCG, health, consumer technology and lifestyle sectors through three strategies: Platform, Growth and Venture (via V3 Ventures). With over €2bn in assets under management, Verlinvest has been active in India since 2010, backing over 25 consumer brands including Blue Tokai, Epigamia, Lahori Zeera, Veeba, Purplle, Ferty9 and Wakefit. Learn more at www.verlinvest.com.
Background
We are pleased to announce that our client, The Eye Foundation Limited has successfully raised USD 75 Mn from Verlinvest, one of the pre-eminent consumer-oriented investment firms in India. This is Verlinvest’s largest commitment in Indian healthcare and also marks one of the largest single specialty healthcare deals in India. The proceeds will be used to drive expansion via new greenfield centers & brownfield acquisitions, invest further into customer experience, and increase reach of the chain.
The Eye Foundation Limited, founded and headquartered in Coimbatore, operates over 25 hospitals across Tamil Nadu, Kerala and Karnataka. The chain is known for its clinical depth in cataract, retina, LASIK, and corneal transplants, and treats over one million patients annually through a mix of high-tech tertiary centres and community clinics.
Veda Corporate Advisors (“Veda”) was the exclusive financial advisor to the Company and its promoters. Veda provided comprehensive transaction advisory services covering identification of prospective investors, strategic positioning including deal structuring, assistance in due diligence, negotiation and finalisation of key commercial terms, leading to the successful closure of the transaction.
“This marks Veda’s 10th transaction in the eyecare space and 63rd transaction in healthcare and life sciences space”
Dr Ramamurthy, Chairman and Dr Shreyas, Managing Director – The Eye Foundation Limited
“We are pleased to acknowledge the invaluable role played by Veda Corporate Advisors in facilitating our recent private equity partnership. Veda’s deep understanding of the healthcare sector, strategic guidance, and hands-on involvement throughout the process were instrumental in ensuring a successful outcome. Their team demonstrated exceptional professionalism, attention to detail, and commitment to aligning the right partner with The Eye Foundation’s long-term vision.
We greatly appreciate Veda’s contribution and partnership in helping us take this important step towards expanding our reach and continuing our mission of providing quality and affordable eye care to all sections of society.”
Sivaraj Sekhar, Managing Director, VedaCorp
“Eye Foundation has been a pioneer in ophthalmology across South India. For nearly four decades, it has earned a stellar reputation for delivering high-quality eye care at competitive price points. The organization has successfully expanded through a combination of greenfield projects and selective brownfield acquisitions, entirely funded through internal accruals. With this investment from Verlinvest, Eye Foundation is now poised to reach even greater heights and further strengthen its leadership in the eye care sector”