SeaLink Capital Partners
(“SCP”) has successfully exited its investment in Nephrocare Health Services Private Limited (“NephroPlus”).
NephroPlus is India's largest and most widely distributed network of dialysis focused centers. In September 2016, SCP invested $12 million into NephroPlus for a significant minority stake, at a time when NephroPlus had 68 dialysis centers across 15 cities. Through a combination of organic growth and the acquisition of DaVita India’s centers, NephroPlus has expanded its reach and capacity to 200 centers across 110 cities in India. Currently, NephroPlus administers 140,000 sessions every month to over 16,000 patients making it the largest dialysis provider in India – four times the size of the nearest competitor.
In November 2019, SCP sold its stake to Investcorp as part of a $45 million transaction, which also included primary capital investment from Investcorp to help NephroPlus expand internationally.
Brian Pereira, Chairman of the Board of NephroPlus, said, "I had the pleasure of working with SCP between 2016 and 2019. As Chairman of the Board, I am thankful for their significant contributions to the strategic direction of NephroPlus. SCP brought discipline and structure to our conversations and took the lead on various important matters like employee compensation, ESOP allocation, and inorganic acquisitions. They also brought focus to improvements in pricing and pharmacy – which had traditionally not been areas of focus. I’m sure they will be a great partner to any company they invest in and wish them the best of success."
Kamal Shah, Co-Founder of NephroPlus, said, “I really liked the fresh insights SCP gave us into our business by conducting surveys among our teammates and our customers and the analyses that followed. This gave us perspectives we would otherwise never have had. They also put us in touch with some really efficient and cost-effective partners in the areas of HR and IT which enabled us to implement systems and processes which have helped to greatly streamline these functions over the long term. All in all, I am very happy with the way our partnership has grown.
Heramb Hajarnavis, Managing Partner of SCP, said, “We are privileged to have partnered with NephroPlus on their journey of providing high-quality dialysis services. Since our investment in 2016, the company has completed a transformative acquisition and demonstrated strong growth by expanding across India while retaining its sharp focus on providing quality care and service to its patients. We wish NephroPlus continued success in their commitment towards dialysis care in India and overseas.
SCP was founded with a strong belief in the strength of the Indian economy and growth potential of high-quality, mid-sized businesses across select industry sectors in India. SCP combines its active ownership model with a strong partnership-based approach to go beyond financial investment and drive long-term value creation for all stakeholders. For additional information please visit SCP’s website at www.sealinkcap.com
For further information on this transaction, please contact Heramb Hajarnavis
or Karthik Narayanaswamy