Indian dialysis services provider NephroPlus has acquired Renal Therapy Solutions Inc. (RTSI), a Philippines-based dialysis network comprising six clinics, marking its second takeover deal in the Southeast Asian nation.
The acquisition bringing NephroPlus' total clinic count in the Philippines to 27, with a strengthened presence in Luzon and Visayas regions, the Indian company said. The addition of six clinics bolsters NephroPlus' reach in areas like Caloocan, Novaliches, Bacolod, Mindoro, and Bohol, the company said.
The deal also expands the Indian company’s global network to 385 clinics across 230 cities in four countries, NeproPlus founder and and CEO Vikram Vuppala said in a social media post. Apart from India and the Philippines, the company operates clinics in Uzbekistan and Nepal.
NephroPlus, which counts Bahrain-based alternative investment firm Investcorp and venture capital firm Bessemer Venture Partners as its investors, didn’t disclose financial details of the deal.
The deal comes more than three years after NephroPlus bought a majority stake in another Filipino company, Royal Care Dialysis Centers, Inc (RCDC), in October 2020, as part of its global expansion strategy.
NephroPlus was founded in 2009 by Vikram Vuppala, Sandeep Gudibanda, and Kamal Shah. Vuppala told VCCircle in January last year that the company was in talks to acquire several companies and that it also wanted to go public.
The Hyderabad-headquartered dialysis chain last raised external funding in December 2021 when it secured $24 million (Rs 180 crore) in a Series E round. IIFL Asset Management led the round while Investcorp and US-based Bessemer also chipped in. NephroPlus has raised about $100 million across multiple investment rounds to date.
