TATA CAPITAL HEALTHCARE FUND II Invests $10M in Apex Kidney Care
- ByStartupStory | October 11, 2023
Tata Capital Healthcare Fund II, a private equity fund under the renowned Tata Group, known for its focus on growth-stage healthcare enterprises, has made a substantial investment of $10 million in Apex Kidney Care (AKC), India’s second-largest dialysis chain. The investment, resulting in an undisclosed stake, is aimed at supporting Mumbai-based Apex Kidney Care in expanding its dialysis services across the country, as per a statement released by the company.
India witnesses almost 21 million dialysis sessions annually, which satisfy less than 11% of the country’s overall demand. This statistic underscores a significant gap driven by factors such as accessibility, affordability, and compliance challenges, according to the involved entities.
Tata Capital Healthcare Fund II previously made its debut investment in the health tech firm Deeptek in March 2022 and extended a $10 million investment to Mumbai-based Oncocare Centre, a network of cancer treatment centers.
Vamesh Chovatia, Partner at Tata Capital Healthcare Fund II, remarked, “At TCHF II, we take a holistic approach to investing capital and backing companies like AKC that address glaring gaps in healthcare. We look forward to working closely with AKC and making high-quality and cost-effective services available to nephrology patients. We believe India needs many more Apex kinds of organizations to deliver dialysis services and effectively address the healthcare need gap in the industry.”
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Indranil Roy Choudhury, CEO of Apex Kidney Care, expressed, “This is a defining moment for us at Apex Kidney Care, and we are honored to be associated with Tata Capital Healthcare Fund II. This association will significantly augment our servicing capabilities and will play a critical role in realizing our mission of creating a kidney care ecosystem for patients – built on compassion, respect, transparency, and desired treatment outcomes. Tata Capital Healthcare Fund II’s support will help us make dialysis and allied services accessible and affordable to all.”
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