Nephroplus takes over DaVita Care India (Photo- Twitter)
Dialysis service provider NephroPlus on Monday announced the acquisition of DaVita Care India, which runs kidney care centers.
NephroPlus, which has 154 dialysis centres in 92 cities across India would foray into global markets and open about 20 centres over the next one year in two countries in South East Asia and Middle East, NephroPlus Founder and CEO Vikram Vuppala told reporters here.
Under the terms of the agreement, NephroPlus would acquire DaVita Care India’s network of 22 centres.
With this acquisition, Nephroplus would further strengthen its servicing capacity and would have a presence in 18 states of India with 176 centers across 97 cities, Vuppala said.
Declining to divulge the cost of acquisition, Vuppala said it was “confidential.”
NephroPlus clocked a turnover of Rs 150 crore last fiscal and is aiming for about Rs 200 crore turnover by this financial year end, he said adding DaVita Care India turnover was Rs 50 crore.
Since inception in March 2010, NephroPlus has raised Rs 200 crore in series A, B and C funding and is in the process of raising series D funding in the range of Rs 130-150 crore for its international expansion.
“Post this (DaVita Care India) acquisition we will be launching in two countries in South East Asia and Middle East over the next three to six months and we also have plans for acquiring existing small scale networks in India and international market,” Vuppala noted.