DCDC Well being Companies Pvt. Ltd, which operates dialysis centres underneath the model Deep Chand Dialysis Centre, on Wednesday stated that it has closed its Collection C funding spherical of Rs 150 crore ($20.5 million).
The funding was led by Funding Fund for Creating International locations (IFU), a improvement finance establishment of Denmark, stated DCDC in a press release.
IFU’s funding has been made on behalf of the Danish SDG Funding Fund, which is backed by Denmark, giant Danish pension funds and different non-public and institutional traders.
Present investor Asian Improvement Financial institution (ADB) additionally participated on this funding spherical.
DCDC will use the funds to increase presence throughout the nation with a mixture of private and non-private partnerships (PPP).
The corporate at present has greater than 100 centres with its presence concentrated within the northern areas of Uttar Pradesh, Haryana, Nationwide Capital Area (NCR) and Madhya Pradesh. It goals to have over 200 centres over the subsequent three years.
Funding financial institution Veda Company Advisors was the unique monetary adviser to DCDC on the deal.
DCDC was based by Aseem Garg in 2009. It presents dialysis care at its PPP centres together with its centres at non-public hospitals and standalone clinics.
The corporate had raised its first external funding of close to $5 million from UK-based CDC Group-backed Pragati India Fund in December 2014. In 2018, ADB had agreed to speculate $10 million (Rs 68.7 crore) in DCDC.
The marketplace for dialysis therapy in India is dominated by small and native gamers and there are solely a handful of nationwide gamers to cater to a rising market.
The sector bought a shot within the arm when the federal government stated within the 2016 funds that funds for the Nationwide Dialysis Companies Programme will probably be made out there by means of the PPP mode underneath the Nationwide Well being Mission.
Dialysis chain NephroPlus is probably the most closely funded participant within the house in India.
The corporate had attracted $45 million from Investcorp as a part of its Collection D spherical of funding in November 2019. Within the course of, it additionally gave a full exit to SeaLink Capital, which had invested in 2016, whereas older traders Bessemer Enterprise Companions and Worldwide Finance Company (IFC) retained stakes.
Final 12 months, NephroPlus bought a majority stake in a Philippine-based firm in its first abroad acquisition.
In 2018, NephroPlus acquired DaVita Care India Pvt. Ltd. This was the second main acquisition within the dialysis phase involving a personal equity-backed firm.
In September 2016, Germany’s Fresenius Medical Care AG purchased an 85% stake in Indian dialysis providers firm Sandor Nephro Companies Pvt. Ltd, which runs the Sparsh Nephrocare chain, from a bunch of traders together with Tata Capital Healthcare Fund.