M&A

M&A

ASG buys 2 eyecare hospitals in Lucknow, Ambala

Economic Times  

ASG Eye Hospitals, backed by private equity investors General Atlantic and Kedaara Capital, has acquired two eye care hospitals - Garg Ophthalmic Centre in Lucknow, Uttar Pradesh and Kapil Eye Hospital in Ambala, Haryana - and is in the process of conducting due diligence to acquire 10 more eye hospitals in next six months. The Jaipur, Rajasthan-based pan-India specialty eye chain has a war chest of INR 500 crore to fund expansion including acquisitions. The company plans to establish a network of more than 200 hospitals within the next 36 months. ASG has more than 50 specialty eye hospitals across 16 states in India, as well as in Uganda and Nepal. The company expects the acquisition of bankrupt Vasan Eye Care for INR 520 crore to be completed within a month, which will add around 97 eye hospitals to the network.