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

Dish TV Revolutionizes Entertainment with ‘Dish TV Smart+’ Services, Offering TV and OTT on Any Screen, AnywhereApril 26, 2024
Arohan Financial Services Recognized Among India's Best Workplaces in BFSI 2024April 26, 2024
Why Podcasts Are the Next Big Thing in Healthcare Advertising in IndiaApril 26, 2024
Challenges of Child Growth at High Altitudes: New Study Reveals ImpactApril 26, 2024
Staying Cool in India's Scorching Heat: Heatwave Safety TipsApril 26, 2024
The Dark Side of Neotame (Artificial Sweetener): New Research Raises Concerns about Gut HealthApril 26, 2024
Sightsavers India Fellowship Program Invites Applications for Promising OphthalmologistsApril 25, 2024
Transforming Brain Healthcare: India's Visionary Task Force for Neurological DisordersApril 25, 2024
The Battle Against Malaria: Rising Trends and Vaccine InnovationsApril 25, 2024
Talc and Asbestos Controversy: Inside Johnson & Johnson's Courtroom StruggleApril 25, 2024
The Hidden Struggles of Parenthood: Addressing Isolation, Loneliness, and BurnoutApril 25, 2024
FDA Confirms Bird Flu Virus Remnants in Pasteurized Milk: Safety and Regulatory InsightsApril 24, 2024
Sarvodaya Hospital Redefines Total Knee Replacement Surgery with Augmented Reality April 23, 2024
Fateh Education announces partnership to expand educational opportunities for Indian studentsApril 23, 2024
10 Strategies to counter disinformation for the healthcare digital ecosystemApril 23, 2024
Is Selling Over-the-Counter (OTC) Drugs in General Stores A Step Towards Affordable Healthcare in IndiaApril 23, 2024
Student Health Crisis: Food Poisoning Incident Strikes Pune Coaching CentreApril 23, 2024
The Impact of Diabetes on Kidney Health: Diabetic Nephropathy ExplainedApril 23, 2024
Toddler Hospitalized After Consuming Expired Chocolates: Health Concerns RaisedApril 23, 2024
After months of diagnostic delay, a migrant worker could access TB services only when a community health worker met himApril 22, 2024