ASG Eye Hospitals secures Rs. 308 crore funding led by Foundation Holdings.

ASG Hospitals, a chain of eye-care hospitals, has secured a funding of Rs. 308 crore led by global investment firm Foundation Holdings.

“This investment will allow ASG Hospitals to pursue organic and inorganic expansion strategies to facilitate the consolidation of the highly fragmented eye healthcare services sector, a $4.4 billion opportunity in India alone,” Aakash Sachdev, Managing Director of Foundation Holdings said in a statement.

“Our focus is to invest in market segments that are underserved and where our investment can result in a social impact while providing economic returns,” he added.

The company was advised by ICICI Securities and AZB & Partners for this investment.

Founded in 2005, ASG Hospitals is backed by Sequoia Capital and Investcorp. It has treated over 5 million patients since inception across its 33 centres in India, Africa and Nepal.

HBL