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Monday, July 22, 2024

Nephrocare secures Rs 8.08cr pre-IPO funding

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KOLKATA, Dec 29: Nephrocare India, a Kolkata-based comprehensive renal care institution, has raised Rs 8.08 crore in its pre-IPO round paving the way for its expansion plans, the company said on Friday.

The funding saw participation from marquee investors, who include former HDFC chairman Deepak Parekh, HDFC Securities chairman Bharat Shah, and founder and MD of Macleods Pharmaceuticals Rajendra Agarwal, it said.

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The fresh infusion of capital will fuel Nephrocare India’s target of establishing 22 high-end kidney care facilities across India by March 2026. Four centres are expected to be operational by the end of the current fiscal, the company said in a statement.

Its long-term vision is to establish 300 Nephrocare centres across the country within the next 8-10 years.

Highlighting the critical need for such expansion, company officials pointed out the vast demand for kidney care units in India, the statement said.

With an estimated seven crore patients struggling with chronic kidney diseases and only around 12,881 haemodialysis centers nationwide, access to proper treatment remains severely limited,

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Nearly one in eleven Indians are susceptible to renal failure which is often driven by diabetes and hypertension, the officials said.

India, dubbed the ‘diabetes capital of the world’, adds approximately 2.5 lakh new dialysis-dependent patients annually due to advanced kidney conditions, they added. (PTI)


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