• NephroPlus

  Led · Series C · Aug 2016

  NephroPlus is described in the article as India’s largest dialysis chain that provides dialysis services. The article identifies the company primarily by its core service offering—dialysis care through a chain of centers. No founding year, revenue, user counts, or other operating metrics are disclosed in the article. The piece focuses on a recent investment event rather than operational detail or explicit future plans for the company. The article does not specify any strategic initiatives, expansion plans, or changes to management resulting from the investment. Financially, the only disclosed item is the $102 million minority-stake investment by Quadria Capital. NephroPlus is a Hyderabad-based provider of dialysis services that operates its own centres and partners with hospitals and state governments. In the last two years it added 80+ centres in India and entered the Philippines market via acquisition of Royal Care Dialysis. The company secured a $100 million dialysis contract in Uzbekistan, which includes building the world’s largest dialysis centre in Tashkent. It has signed up 200+ reputed hospitals as partners, including Fortis Hospitals, CARE Hospitals, Medanta and Max Healthcare, and operates PPP centres and the country’s largest dialysis centre at Tirupati. Management says it will use new capital to drive organic and inorganic growth in India and overseas and to build a digital health solution targeted at dialysis patients. Leadership noted the company faced challenges during COVID but strengthened its position through scale, customer connect and backward integration on costs. NephroPlus operates a widespread dialysis services network, describing itself as a cost-effective, easy-to-use dialysis provider. Founded about a decade ago by Vikram Vuppula and Kamal Shah, the company reports presence across 20 states with 196 centres and a dialysis network in around 125 locations. Financially, it logged a turnover of Rs 200 crore in 2018–19 and expected to end the current fiscal at about Rs 270 crore. The company plans to use new funding for India expansion via select acquisitions and centre openings, plus overseas expansion into the Middle East and Southeast Asia. Management also intends to establish joint ventures and sign operations and maintenance contracts as part of its growth strategy. Earlier backers include Bessemer Venture Partners, SeaLink Capital and the IFC. NephroPlus operates a network of outpatient dialysis centres, providing dialysis services across India. As of the article it had 75 centres across 15 states and has signed a contract to run 13 centres in Andhra Pradesh under the National Dialysis Services Programme. The company plans to expand its network to 500 centres over the next five years and is pursuing growth including acquisitions. Management said the new funding will be used to expand its network. Financially, net sales more than doubled to Rs 30.9 crore in 2014-15 from Rs 13.8 crore the prior year; net loss widened to Rs 6.8 crore but at a slower pace. The firm was founded in 2009 and was still to file its 2015-16 financials at the time of the report. NephroPlus is a start-up providing affordable dialysis care services. It currently operates 26 centres across 10 states and plans to expand its network to 150 centres and reach 20 states within three years. The company says it may pursue a public issue once it crosses a "critical mass" of 100 units. IFC, a World Bank Group member, invested $7 million and Bessemer Venture, a US-based global venture capital firm, invested $3 million, according to the article. Those investments total $10 million and appear intended to fund the planned rapid expansion of centres and geographic reach. The article does not disclose revenues or other operating metrics beyond centre and state counts.

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