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CHENNAI: Singapore-based private equity firm Quadria Capital is likely to invest $100120 million in Maxivision eyecare chain, owned by serial healthcare entrepreneur G S K Velu of Trivitron Healthcare and Neuberg Diagnostics. The private equity firm is in talks to pump in around $200 million overall in the eyecare chain over two years.
“Talks are in an advanced stage and a formal announcement is likely to be made in about a fortnight. The investment will enable the eyecare chain, a leader in Andhra Pradesh and Telangana, to spread its wings to 100 locations over two years,” multiple sources told TOI.
Velu, who is the chairman of Maxivision, could not be reached for comment.
At present, Maxivision has a presence in Tamil Nadu and Gujarat, besides its leadership position in Andhra Pradesh and Telangana. It is keen to add Karnataka and Kerala, besides Maharashtra, Goa, Madhya Pradesh and Chhattisgarh to its network in some years. The idea is to spread across south India, followed by the west and a little bit of east.
“Talks are in an advanced stage and a formal announcement is likely to be made in about a fortnight. The investment will enable the eyecare chain, a leader in Andhra Pradesh and Telangana, to spread its wings to 100 locations over two years,” multiple sources told TOI.
Velu, who is the chairman of Maxivision, could not be reached for comment.
At present, Maxivision has a presence in Tamil Nadu and Gujarat, besides its leadership position in Andhra Pradesh and Telangana. It is keen to add Karnataka and Kerala, besides Maharashtra, Goa, Madhya Pradesh and Chhattisgarh to its network in some years. The idea is to spread across south India, followed by the west and a little bit of east.
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