NephroPlus, a dialysis center, has raised Rs 182 crore in a Series E funding round led by IIFL Asset Management, with existing investors InvestCorp and Bessemer Venture Partners also participating.

According to a statement made, the new money would be used to explore expansion prospects in India and select international markets.

In November 2019, the Hyderabad-based startup raised Rs 316 crore from Bahrain-based private equity firm InvestCorp. The new round follows a significant scale-up that the company has executed in recent years in order to maintain its leading market position in the dialysis arena, according to the company.

In the previous two years, the firm has opened more than 80 dialysis centres in India, acquired Royal Care Dialysis in the Philippines, and won a substantial $100 million dialysis contract in Uzbekistan, which includes the construction of the world's largest dialysis centre in Tashkent.

So far, NephroPlus has partnered with over 200 hospitals, including Fortis Hospitals, CARE Hospitals, Medanta, and Max Healthcare, to operate dialysis centres. In collaboration with state governments, it has also established dialysis centres.

NephroPlus has 275 dialysis centres in over 170 cities throughout 23 Indian states and is noted for its patient-centricity and quality focus. The company, which was founded 11 years ago, sees 18,000 patients each month.

“While NephroPlus had faced few challenges during the COVID waves, our scale, diversified presence, customer connect, along with strong backward integration on costs has helped us emerge stronger overall," said Vikram Vuppala, CEO of NephroPlus. “We look forward to not only driving organic and inorganic growth in India & overseas with this capital, but also invest in building a unique digital health solution targeted at dialysis patients.”

IIFL Private Equity manages $3 billion in assets in the healthcare, technology, financial services, and consumer sectors, ranging from early-stage to late-stage investments.