Delhi-based Centre for Sight (CFS), a leading eye care chain, has acquired a 51% stake in Navi Mumbai's Laxmi Eye Hospital, enhancing its presence to nine centers in Maharashtra. This acquisition is part of CFS's broader expansion strategy, which includes investing INR 300-500 crore over the next few years. Founded in 1989, Laxmi Eye Hospitals operates four centers and is renowned for its quality and affordable care. In May, CFS raised USD 100 million from ChrysCapital, with half used to facilitate an exit for Mahindra and the rest allocated for expansion. CFS recently added 10 centers and reported over 1.5 million annual visits as of March 2024.
Delhi-based specialty eye care chain Centre for Sight (CFS) has secured a controlling interest in Laxmi Eye Hospital, located in Navi Mumbai, though the financial details remain undisclosed. ChrysCapital-backed CFS recently announced that it has acquired a 51% stake in Laxmi Eye Hospital. This acquisition aligns with CFS's expansion strategy and increases its presence to nine centers in Maharashtra. The combined entities will also consider opportunities for growth in Raigad district and surrounding areas, according to the company.
Mahipal Singh Sachdev, the founder and chairman of Centre for Sight (CFS), emphasized that their strategic partnership with Laxmi Eye Hospital and other leading centers in Mumbai reflects their strong commitment to maintaining the highest standards of eye care. He mentioned that CFS is planning to invest INR 300-500 crore over the next few years to support their expansion efforts.
Laxmi Eye Hospitals, which was established in 1989 by ophthalmologist Suhas Haldipurkar, operates four eye centers in Panvel, Kharghar, Dombivli, and Kamothe. It was noted that Panvel serves as the hub hospital and is recognized in the region for its quality and affordable eye care. The hospital offers comprehensive eye care services and features advanced infrastructure and technology, including FEMTO for bladeless cataract procedures.
Centre for Sight (CFS), one of the top three organized eye care chains in India, secured USD 100 million from the private equity firm ChrysCapital in May. Approximately half of the investment from ChrysCapital is intended to facilitate an exit for Mahindra, which holds more than a 30% stake in CFS. The remaining funds are earmarked for the company's expansion initiatives. CFS is planning to invest INR 300-500 crore in the coming years to support its growth strategy.
In the past 12 months, Centre for Sight (CFS) has expanded by adding 10 brownfield centers through strategic partnerships. These include collaborations with Fazili Eyecare in Srinagar, I Max Eye Care Hospital in Sikar, Kakathiya Eye Hospital in Warangal, Drishti Eye Hospital in Badlapur, Rushabh Eye Hospital & Laser Centre in Chembur, and most recently, Laxmi Eye Hospital in Mumbai. As of March 2024, CFS reported an annual footfall exceeding 1.5 million across its 82 centers in 39 cities, including Delhi, Gujarat, Rajasthan, and Telangana.
In conclusion, Centre for Sight's acquisition of a controlling stake in Laxmi Eye Hospital enhances its Maharashtra presence and supports its expansion plans. With significant investment and recent additions, CFS aims to grow further while maintaining high standards of eye care.
Advertisement
Facebook
Whatsapp
