Regency Healthcare plans to expand 1,500 beds across 10 facilities by 2019
Based in Kanpur, Regency Healthcare, a multi-super specialty, renal and oncology chain, is targeting to raise about $14 million from a conglomerate of leading global funds IFC, KOIS and HealthQuad. The three have taken a significant minority stake of about 20-30% in the chain.
Regency manages 500 beds across five facilities and is being valued around Rs 300 crore. At an investment of about Rs 350 crore, it is targeting to expand 1,500 beds across 10 facilities in central and eastern Uttar Pradesh in the next two years.
Regency has two strategic joint ventures with Fresenius Medical Care, Germany, for setting up a dialysis chain and with Healthcare Global (HCG) for oncology hospitals.
This month, it started working on a 125-bed dedicated oncology hospital and will begin a multi-specialty unit next month.
Dr Atul Kapoor, Director,Regency Healthcare, said, “Our effort to grow quality healthcare business in Uttar Pradesh has received a much-needed boost from this investment. Regency will make an investment of in excess of Rs 350 crore.”
HealthQuad is a healthcare focus venture capital fund. It was started by Amit Varma and Abrar Mir, sponsors of Quadria Capital.
Varma said, “Regency represents a unique opportunity to improve access to care across a trusted hospital network in Uttar Pradesh. The thrust to provide best infrastructure and technology at an affordable price point will deliver the much needed benefit and outcomes to all the stakeholders.”