Incor Healthcare gains Rs 155 crore

Incor Healthcare, under the OMNI Hospitals brand, has raised Rs 155 crores in funding.

Incor Healthcare, under the OMNI Hospitals brand, has raised Rs 155 crores in funding. The investment came from Emerging India Credit Opportunities Fund I (EICOF-I), Category II Alternate Investment Fund (an Investec-managed and SEBI-registered) along with Investec Bank Plc.

Under the OMNI Hospitals and GIGGLEs, Incor Healthcare operates 6 chains of hospitals spread across Hyderabad, Telangana and Visakhapatnam, Andra Pradesh. They have a current capacity of more than 800 beds. 

The INCOR Group was founded by Anand Reddy Gummadi and Surya Reddy Pulagam. The funds will be used to expand their operation to a 1500 to 200 bed capacity in the next 5 to 6 years. Along with this they also plan to expand to 5 new states of India.

Their USP lies in acquiring and then turning sick hospitals into profitable ventures. The other major development is that the private equity investor ASK Pravi, will leave the company and the control will be gained by the promoters of Incor Healthcare. ASK Pravi had gained a majority stake in the company for Rs 60 crore in 2013.

The investment comes with the belief that the momentum seen in the healthcare industry would continue. OMNI’s chief executive believes that after growing its asset base, the company will go for public listing in 3 years' time.

Tags : #IncorHealthcare #OMNIHospitals #SEBI #Investec #hospitals #funding #fundingalert #smitakumar #medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

Successful Removal of 3.7 KG Large Abdominal Tumor from 14-Year-Old Somalian Girl at KIMS Cuddles HospitalMay 16, 2024
iLEAD Sets a Precedent by Launching a Graphic Anthology Authored by Multimedia, Animation and Graphics Students May 16, 2024
Ramaiah Memorial Hospital Launches Novel Intra-Operative Radiation Therapy (IORT); Achieves significant advancement in Cancer Treatment to Enhance Quality of LifeMay 16, 2024
IIITH Announces Product Management Summer SchoolMay 16, 2024
Çelebi India's Delhi Cargo Terminal Successfully Handles Airbus H125 Helicopter ShipmentMay 16, 2024
Plant-Based Diets and Prostate Cancer: New UCSF Study Shows Promising ResultsMay 16, 2024
National Medical Commission Approves 112 New Medical CollegesMay 16, 2024
Study Suggests That Chemotherapy Results in Physical Decline for Older Women with Breast CancerMay 16, 2024
Google DeepMind's AlphaFold 3: Revolutionizing Drug Discovery with AIMay 16, 2024
Hester Biosciences Ltd reports Consolidated Revenue growth of 18% at Rs. 79.3 crore, EBITDA up 37% to Rs. 16.4 crore and Net Profit up 12% to Rs. 6.40 crore in Q4FY24May 16, 2024
Akshay Tritiya Parna Mahotsav heldMay 16, 2024
IT Minister Sridhar Babu to grace the 10th National Facilities Managers Summit-2024, to be held in the cityMay 15, 2024
Alarming Study Reveals Cancer-Causing Chemicals in Car InteriorsMay 15, 2024
India's Thalassemia Challenge: The Importance of Early Screening and TreatmentMay 15, 2024
The Dangers of Ultra-Processed Foods: A 30-Year Study Raises AlarmsMay 15, 2024
Unique Genetic Risk Factors for Breast Cancer Found in African Ancestry StudyMay 15, 2024
AsiaMedic partners with Sunway to establish new diagnostic imaging centreMay 14, 2024
Kamineni Doctors Successfully Remove Bone Stuck Near Heart in Elderly PatientMay 14, 2024
On International Nurses Day, American Oncology Institute (AOI) launches #TheExtraordinaryCareGiver Campaign as Tribute to Oncology NursesMay 14, 2024
Shiprocket announces Shiprocket Growth Academy to upskill 100,000 Indian MSMEs through eCommerce learningMay 14, 2024