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Dr Mohan’s raises Rs 66 crore from Lok Capital, Evolvence

This is the first time in its 25 years of existence that Dr Mohan’s has reached out to private equity investors. The chain plans to have 100 clinics in four years, up from 24 centres at present.

, ET Bureau|
Updated: Apr 13, 2017, 02.24 PM IST
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MUMBAI: Dr Mohan’s Diabetes Specialities Centre, a diabetes clinic chain based in Chennai, has raised $10.23, or roughly Rs 66 crore from Lok Capital and Evolvence India Fund to help expand its business across the country.

This is the first time in its 25 years of existence that Dr Mohan’s has reached out to private equity investors. The chain plans to have 100 clinics in four years, up from 24 centres at present.

“We have grown to a level where we need new ideas to expand,” said V Mohan, chairman of the chain. “Doctors are always not the best managers, so we thought an established PE player will help us achieve that next growth,” he told ET.

Mohan, a renowned diabetologist who set up Dr Mohan’s Diabetes Specialities Centre in 1991, also runs an education programme in diabetes management and has created a pool of trained physicians who would help expand his business across the country.

For Lok Capital, this is the third investment in the healthcare sector, after Drishti Eye Care and geriatric care provider LiveWell.

“The diabetes care market is still largely addressed by single doctor setups. There is a huge whitespace for an organised care provider to build a pan-India chain offering holistic care for diabetes,” said Venky Natarajan, managing partner at Lok Capital.

India has one of the largest diabetic population in the world with an estimated 70 million patients. International Diabetes Federation (IDF) estimates that the number of diabetes cases in India will cross 100 million by 2030.

The market for diabetes care is currently estimated at Rs 12,000 crore.

Dr Mohan’s, one of the largest diabetes clinic chains in the country with strong brand value in south India, has so far treated more than 400,000 patients. Mohan hopes that his brand reach and old association with medical community will help his business grow across the country.

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