Matrix Partners India has announced to invest Rs 40 crore in Meditrina Hospitals as the sole investor in the first institutional round of equity funding for the Company.
Matrix Partners India has announced to invest Rs 40 crore in Meditrina Hospitals as the sole investor in the first institutional round of equity funding for the Company. Meditrina is a leading provider of cardiac care in South India. It currently operates four units focused on interventional cardiology in South and Central Kerala.
Dr N Prathap Kumar, Founder, Meditrina Hospitals Private Limited, said, "Partnership with Matrix will enable us to move fast in the growth phase and provide us thought leadership, given their strong background in healthcare services."
Meditrina has a number of several eminent Cardiologists planning to join the team in the immediate future. In the next five years, Meditrina aims to grow into a strong network of 20 SIHs supported by two strategically located centres of excellence.
"It is our privilege to be associated with Meditrina that has a vision to create quality cardiac care in tier II India that particularly impressed us.The capital efficient Cardiac SIH model is a substantial business model innovation in a hitherto highly capital intensive, super specialist therapeutic area," said Asish Mohapatra, Vice President, Matrix India.
"Specialty healthcare services are an important franchise area for Matrix Partners India as they satisfy a growing demand for affordable and patient-centric quality care for Indian consumers and this investment continues to build our healthcare investing franchise in this area," said Avnish Bajaj, co-Founder and Managing Director, Matrix India.