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Healthcare-focused private equity firm Quadria Capital has said it is investing up to Rs 1,300 crores in Maxivision Eye Hospital, a private eye care clinic.

Quadria will make an initial investment of roughly Rs 600 crores for a minority stake and a further investment of up to Rs 700 crores for an additional stake, according to a press release.

This fund will support Maxivision’s ability to scale and serve the growing demand for eye care in India, particularly in Tier II and III cities. Overall, the broader eye care industry has received investments of over Rs 7,000 crores in the last year. 

Founded in 1996, Maxivision operates 42 centres in five states across south and west India, with a leadership position in Andhra Pradesh and Telangana. The company offers a full suite of eye care services, including cataract surgery, treatments for retinal issues and glaucoma, oculoplasty, as well as neonatal and paediatric eye care.

“Our business has evolved tremendously over the past few years and today we are proud to be one of the fastest-growing and most trusted providers of eye care, particularly in South and West India. Quadria’s expertise, capital and focus on operational value creation will put us in an even better position to keep scaling, innovating, and delivering for patients seeking affordable and quality eye care,” said Dr GSK Velu, Promoter and Chairman of Maxivision.

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“Quadria’s investment into Maxivision underscores our ambition to invest in regional leaders of Asian healthcare, who offer full-service offerings within a single speciality to the wider population,” added Sunil Thakur, Partner and Head of South Asia at Quadria Capital.

Founded in 2012, Quadria has assets under management of over $ 3.4 billion. The company has backed healthcare firms including AIG, a referral centre for gastroenterology and HCG, an oncology network.