March 11, 2023 — ASG Eye Hospitals, a leading provider of comprehensive ophthalmologic services in India, announced the successful acquisition of Vasan Eye Care following approval by the Committee of Creditors and the National Company Law Tribunal. The acquisition, valued at INR 526 crores, significantly expands ASG’s footprint to over 150 hospitals across 21 states, making it the largest eye care network in India.
Key Highlights:
Strategic Expansion: The acquisition strengthens ASG’s presence especially in South India, complementing its existing network in Tier 2 and Tier 3 cities, improving accessibility to quality eye care services nationwide.
Brand Continuity: Vasan Eye Care will continue to operate as an independent brand under the ASG umbrella.
Leadership Comments:
Dr. Arun Singhvi, Chairman and MD, highlighted the doctor-led model’s commitment to clinical excellence and seamless integration with Vasan.
Aakash Sachdev, MD of Foundation Holdings and Director at ASG, called the acquisition a historic milestone to create a world-class, PAN India eye care platform.
Dr. Vikas Jain, Director at ASG, emphasized operational excellence and cutting-edge technology as key strengths to deliver superior clinical outcomes.
Context and Industry Need:
India faces a critical shortage of ophthalmologists and optometrists, particularly in rural and smaller towns, with over 62 million people visually impaired and 8 million blind due to treatable conditions like cataracts and diabetic retinopathy. ASG Eye Hospitals and Vasan Eye Care aim to address this gap by expanding infrastructure, specialist training, and leveraging technology to improve eye health across the country.
Investor Support:
Investors including Foundation Holdings, General Atlantic, and Kedaara Capital are committed to supporting ASG’s vision of becoming India’s leading eye-care franchise.
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