SeaLink Capital Partners Announces an Investment of $15 million into NephroPlus along with the International Finance Corporation
Funds to support continued expansion of dialysis centers
NephroPlus, India’s largest and most widely distributed network of dialysis focused centers announced today that it has raised new growth equity financing, led by SeaLink Capital Partners (SCP), with participation from existing investor, International Finance Corporation (IFC, a member of the World Bank Group). Heramb Hajarnavis, Managing Partner, SeaLink Capital Partners, is joining the Board of Directors of NephroPlus.
Founded in 2009, NephroPlus currently has a network of 75 dialysis centers across 15 states and 50 cities in India. The new funding will be used for further expansion of its network of centers to meet the growing need for kidney disease management services.
Dialysis is a necessity for chronic kidney disease (CKD) patients who have end-stage renal disease. Due to a significant undersupply of dialysis centers in India, a majority of patients cannot get access to the treatment. With the prevalence of diabetes and hypertension, leading causes of CKD, expected to rise due to lifestyle factors, the need for dialysis in India is likely to increase further.
The gaping shortfall in treatment accessibility has led to dialysis becoming a national priority. Earlier this year, the government launched a National Dialysis Services Program to provide dialysis in district hospitals across the country through public-private partnerships. NephroPlus is participating in this critical national initiative and has recently signed a contract with the Andhra Pradesh Government to run 13 such centers in the state.
Vikram Vuppala, Founder and CEO, NephroPlus said, “Securing the backing of a leading investor like SeaLink Capital Partners (SCP) is an important milestone for NephroPlus and a strong validation of the impact that NephroPlus has been creating in the dialysis space in India. We are confident that SCP’s unique network as well as their approach towards growing and building value collaboratively with entrepreneurs will help us further in our growth. We are also pleased to have the continued support from existing investors, who have been of tremendous help to us since their initial investment.”
Heramb Hajarnavis, Managing Partner, SeaLink Capital Partners (SCP), added, “We are excited to partner with NephroPlus. We have been very impressed with how the team has scaled up their network of dialysis centers over the last few years while retaining a sharp focus on the quality of care. SCP’s approach is to go beyond financial investment and to actively partner with high quality companies. We look forward to working with Vikram and other members of the management team as they further expand their presence across India and address a crucial healthcare need for millions of people.”
“IFC had invested in NephroPlus in 2014 to expand the availability of high quality kidney care services in India. Our repeat investment will further expand the provision of high quality dialysis care in a market that is still underserved. Specialized operators such as NephroPlus help improve access to timely and quality treatment while creating jobs,” said Pravan Malhotra from IFC’s Venture Capital team and a member of the NephroPlus Board of Directors.
About NephroPlus: NephroPlus is India’s largest Dialysis Provider Network offering highest quality dialysis services. With a strong commitment to quality, it is spearheading a change in the way in which dialysis is done in India and beyond. NephroPlus has 75 centers currently across 15 states in India performing 600,000 treatments per year. Nephroplus’ goal is to enable people on dialysis to lead long, happy and productive lives. For more details, please visit www.nephroplus.com
About SeaLink Capital Partners: SCP was founded in 2015, with a strong belief in the strength of the Indian economy and growth potential of high-quality, mid-sized businesses across select industry sectors in India. SCP combines its active ownership model with a strong partnership based approach to go beyond financial investment and drive long-term value creation for all stakeholders. For additional information please visit SCP’s website at www.sealinkcap.com