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.