Quadria Capital, a healthcare-focused private equity firm based in Singapore, has invested 850 crores (US$102 million) in NephroPlus, one of Asia’s largest dialysis networks.

Through the transaction, Quadria will acquire “a significant minority stake” through a combination of a primary investment and the purchase of shares from existing shareholders. The deal will support NephroPlus in serving the growing demand for high-quality, affordable dialysis services across India and other markets in Asia.

Founded in 2010, NephroPlus is a dialysis provider in sizeable, high-growth markets across Asia with dominant leadership in India and a fast-growing footprint in the Philippines and other countries in the region.

The company serves patients across dialysis centres in marquee hospitals and at standalone clinics, working with leading nephrologists. NephroPlus also delivers care through public-private partnerships in both urban and rural areas.

Demand for dialysis services in the company’s target markets is expected to grow at a rate of over 11% annually over the next five years, Quadria says.

Specialized chains such as NephroPlus are expected to gain market share as hospitals increasingly outsource dialysis operations and as governments seek to make high-quality dialysis services more accessible.

Growth opportunities

The company has a successful track record of growing via bolt-on acquisitions and plans to do more acquisitions in the future.

With Quadria’s support, NephroPlus aims to leverage its strong brand, operational expertise, and trusted relationships with leading nephrologists to capitalize on growth opportunities and expand its market leadership.

“We look forward to expanding in India, our core market, while exploring further opportunities to bring our expertise and clinical excellence to more patients in other global markets,” says NephroPlus founder and chief executive officer Vikram Vuppala.

“Quadria’s healthcare expertise, capital and focus on operational value creation will put us in an even better position to keep scaling, innovating, and delivering affordable and high-quality care.”

Quadria has been investing in some of India’s leading single-specialty healthcare companies including Maxivision, one of India’s leading eye care chains; AIG, a leading global referral centre for gastroenterology; and HCG, India’s leading oncology network.