Incor Healthcare, which operates multi-speciality hospital business under the Omni Hospitals brand, has raised ₹155 crore from Emerging India Credit Opportunities Fund I, an Investec managed SEBI registered Category II Alternate Investment Fund along with co-investment by Investec Bank PLC.
Omni Hospital’s Group CFO Ankit Shah said the funding would help Incor firm up its consolidation strategy by giving an exit to its outgoing PE investor ASK Pravi.
Incor in a release said Omni is chain of six hospitals across Andhra Pradesh and Telangana. The expansion plan, under the Omni brand, includes taking the bed count from over 800 to 1,500-2,000 beds over the next 5-6 years. There will also be a geographic expansion, from current presence of 2 to five States. It will continue to exercise its expertise in acquiring and turning around sick hospitals into profitable centres, Incor said.
“There is renewed interest and growth momentum in this sector over the past two years. We plan to grow our asset base and financials, so as to be ready for a public listing in three years,” Omni Hospital’s Group CEO Aloke Chandra Mullick said.
