• Quadria Capital, one of Asia’s largest healthcare-focused private equity firm invested INR 850 Crores in a series F funding round of NephroPlus, valuing the company at more than Rs. 2000 Crores.
  • Through this transaction, Quadria acquires significant minority stake through a combination of a primary investment of Rs. 100 Crores and the purchase of shares from existing shareholders including Investcorp, Bessemer Venture Partners, IFC, and IIFL Private Equity.

About NephroPlus:

  • Founded in 2010, NephroPlus is a uniquely positioned dialysis provider with around 450 dialysis centers across India, the Philippines, Nepal, Uzbekistan and Saudi Arabia offering quality, affordable services to around 30,000 of patients and performing over 3 million dialysis sessions each year.
  • The company serves patients across dialysis centres in marquee hospitals and at standalone clinics, working with leading nephrologists through public-private partnerships.

About Quadria Capital:

  • Founded in 2012, Quadria is an Asia healthcare-focused private equity firm with assets under management of over USD 3.4 billion.
  • The top investments include Healthcare Delivery, Life Sciences, Medical Technology and Associated Healthcare Services subsectors. 



  • The new funding will fuel the organic growth plans while allowing to make significant acquisitions, putting NephroPlus at the forefront of dialysis healthcare innovation.
  • NephroPlus is expected to gain market share as hospitals increasingly outsource dialysis operations and as governments seek to make high-quality dialysis services more accessible.
  • As reported by ET, NephroPlus posted revenue of Rs. 550 Crore in FY 24, recording 25% growth.
  • Quadria will have a slightly higher stake than Bahrain-based Investcorp, which was the largest shareholder in the company prior to the latest round at 35-40%.
  • The PE firm expects demand for dialysis to grow at a rate of over 11 per cent annually over the next five years in the markets it is targeting for expansion.
  • Quadria’s healthcare expertise, capital, and focus on operational value creation will put the company in a better position to scale, innovate, and deliver affordable, high-quality care.
  • In September 2023, NephroPlus entered into a 51:49 joint venture (JV) with Tibbiyah (Arabian International Healthcare Holding Company) to expand its operations to Saudi Arabia.
  • In January 2023, NephroPlus received about Rs. 70 crore loan from Asian Development Bank for expanding in Uzbekistan.
  • In 2021, NephroPlus raised Rs. 80 crore in a Series E funding round led by IIFL Asset Management along with existing investors Investcorp and BVP.Till date, the company has raised about $104 million through several rounds.


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