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ASG Eye Hospitals takes control of Vasan Eye Care chain

Economic Times  

Jodhpur-headquartered ASG Eye Hospitals has commenced steps to take operational control of Chennai-headquartered Vasan Eye Care following the completion of formalities and transfer of ownership. Post the merger, Vasan Eye Care would remain as an independent eye care brand. On February 3, the National Company Law Tribunal (NCLT) approved the resolution plan of ASG Hospitals to acquire Vasan Healthcare Pvt Ltd with a bid value of INR 526 crore with 98% of the votes received from the Committee of Creditors (CoC). Vasan Eye Care network claims to have been serving over six million patients every year. It has over 100 super speciality eye care hospitals in its network. ASG Eye Hospitals claims to have served over 7.5 million people through its 54 speciality eye care hospitals across 17 states. It also has a presence abroad in Uganda and Nepal. With the addition of Vasan Eye Care, the network of ASG Eye Hospitals would increase to over 150 across 21 states.

Between Feb-2009 and May-2014, Vasan Eye Care had raised about USD 180 M from WestBridge, GIC and Sequoia Capital India. Between Jan-2013 and Jul-2022, ASG Eye Hospitals had raised over USD 256 M from Sequoia Capital India, IDFC Alternatives, Foundation Holdings, Symphony International Holdings, Kedaara Capital and General Atlantic.