EyeQ to raise Rs. 81.5 crore in Debt financing from DFC

"As a leading player in one of the fastest growing organized healthcare markets in the world, Eye-Q has created a unique position in India with its Quality and safety focus and lean operational model. The company ensures readily available, affordable, and high quality, end-to-end ophthalmology services to populations in Tier2 to Tier 4 towns. With many of its facilities accredited/certified from world-class certification bodies like the NABH, super specialty services like retina, glaucoma, and various government empanelments for easy, cashless access to services by underserved populations, the company has created a differentiated space for itself. The company also provides its affordable and quality ophthalmology services in underserved countries like Nigeria.

With this financing from DFC, the company will expand these quality services within & beyond the Indian subcontinent by developing more centers – beyond its current 39 centers - to sustain growth momentum and create access in underserved areas across Tier 2 to Tier 4 towns in India.," the company stated.

The Indian Eyecare market is estimated to be about US$ 18bn in size. With a 5% prevalence of visual impairment in the population (almost 1% prevalence of blindness), the compelling need for quality affordable eyecare services is undisputed. Setuka Partners LLP based out of Washington DC, led by Aman Khanna, was the exclusive advisor to this transaction.

Dr. Ajay Sharma, Founder & CMD, Eye-Q Vision Private Limited, said, "The core foundation of Eye-Q is based on ensuring accessible, available and economical eye care facilities to the common man. We extend our gratitude to the U.S. International Development Finance Corporation (DFC) for believing in us and being an integral part of our growth journey. We have already gained the trust of 50+lakh patients in the last 15 years, and with this association, we are confident of achieving our objective of providing global quality eye care to the underserved section of the other tier-2 and tier-3 cities. We intend to utilize the capital for expanding our presence at a pan-India level. We believe this is just the start of many more milestones that are in store for Eye-Q in the future."

Mr. Rajat Goel, Co-Founder & CEO, Eye-Q Vision Private Limited, said, "At Eye-Q, we envision offering world-class eye care solutions at affordable prices across the country with a special focus on Tier cities. We are grateful to the U.S. International Development Finance Corporation (DFC) for supporting us in our growth trajectory. With this investment, we are sure that we will reach one step closer to our goal of strengthening our presence across Tier 2 to 4 cities and fulfilling the demand for quality and affordable eye care services in remote areas."