Diabetes care provider, Dr Mohan’s Diabetes Specialties Centre, founded in 1991 has received 10.23 million dollars (about Rs 66 crore) in a Series A funding from investment firm Lok Capital Pvt. Ltd and private equity firm Evolvence India Fund.
Speaking about the their future plans, Dr V Mohan, chairman of the Diabetes Specialities Centre, said, “We are already a known name in south India and we are looking to gain a pan-India presence. While centres are already set up in Delhi and one in coming up in Lucknow, we will use the funds to expand in tier 2 and tier 3 cities across the country,” reports TOI
According to the Dr Mohan, this funding will help them to make their presence stronger in India as already many other diabetes care health institutions have been mark their presence sharply.
Apart from the further expansion, some part of the investment will be used fordevelop and sell the lifestyle-based healthy products such as high-fibre rice, noodles and brown rice under the Dr Mohan brand.
When VVCircle contacted to Sagar R. Agarwal, Director, Evolvence India Fund,confirmed the development, he said, “Dr Mohans has been a pioneer in diabetes research and quality care in India for over a couple of decades now. It has built a strong team of professionals, state-of-the-art centres, and processes and systems, which could be expanded to pan India with the right amount of capital and support,” he said, but did not disclose the amount committed by Evolvence India Fund.
Dr Mohan’s Diabete’s care chain has 15 centres in Tamil Nadu, including eight in Chennai, four centres in Karnataka, three in Telangana and one each in Andhra Pradesh, Bhubaneswar and Delhi. It will soon open centres in Kerala and Lucknow, Mohan said.
Dr. Mohan’s Diabetes Specialities Centre is a diabetes speciality hospital chain in Southern India started by Dr Mohan along with his wife Dr Rema, who started this diabetes centre as a private limited company with 4 consultant doctors which now has grown to 20 centres and more than 1000 staff. Dr. Mohan’s Diabetes Specialities Centre is the collaboration centre for World Health Organisation on Non Communicable Diseases Prevention and Control.