Our News Bureau – Mumbai
Vasan Health Care announced that Government of Singapore Investment Corporation Pte Ltd (GIC), through its affiliates, has invested $100 million for a minority stake in Vasan — the Chennai-based global leader in speciality eye care and dental care. GIC joins Sequoia Capital and Westbridge Capital who are already investors in Vasan.
“We are delighted to begin this partnership with Vasan. Dr AM Arun, Chairman and Managing Director, Vasan Health Care in his short span of time has built Vasan as a leader in the healthcare sector. The completion of this transaction also underscores our commitment to increase our investments in India,” said Ang Eng Seng, Global Head of GIC’s Direct Investments Group.
“We are excited to welcome GIC on board as an investor in Vasan. It is a very important milestone in evolution and growth of Vasan and I am confident that the partnership with GIC will give Vasan the leverage to emerge as the world’s leading healthcare provider. Sequoia Capital and Westbridge Capital provided the early impetus to Vasan and we believe the investment by GIC will enable us to scale greater heights,” said Arun.
“We are delighted to welcome GIC as an investor into Vasan and am sure that their presence will help the company as they continue to build a trusted and credible franchise in the healthcare space,” said VT Bharadwaj, Managing Director, Sequoia Capital.
K P Balaraj, Managing Director, WestBridge, added, “Arun and his team have built an amazing consumer brand franchise in healthcare services across eye and dental care. Vasan Healthcare will be a very large, valuable and global franchise in the years to come.”