IFC Invests $7 million in Dialysis Provider NephroPlus to Expand Access to High Quality Kidney Care Services in India
Diabetes, cancer, and cardio-vascular disease have emerged as serious public health problems in developing countries, as they have made strides in fighting communicable diseases. But most health systems struggle to prevent and treat these diseases and their side effects. Kidney disease, often a complication of diabetes and high blood pressure, is particularly expensive to treat and requires sophisticated equipment and highly trained health staff.
IFC, a member of the World Bank Group, has invested $7 million in dialysis provider NephroPlus to expand access to high quality kidney care services in India. The company aims to reach over 8,000 patients and help create 1,000 skilled health services jobs in the next five years, almost a third of these will be for women.
India remains a highly under-served market for dialysis services. An estimated one million people in India are required to undergo dialysis sessions three times each week. However, almost nine out of ten people who need dialysis do not have access to it, and it is clinically and financially difficult for hospitals to provide this service. Specialized operators such as NephroPlus help people improve the length and quality of their lives.
“High quality dialysis providers with a commitment to operational excellence need to scale up to meet India’s enormous healthcare needs,” said Pravan Malhotra, Venture Capital Lead for South Asia at IFC.
This is IFC's first healthcare venture capital investment in South Asia, and also the first from IFC's $250 million Early Stage Investment Program. The investment will be used by NephroPlus to expand its network of dialysis centers in India. NephroPlus already operates 26 dialysis centers across ten states in India. Besides IFC, existing investor, Bessemer Venture Partners, has invested an additional $3 million in NephroPlus.
IFC is the world’s largest multilateral investor in the private health care sector in emerging markets, with financing of over $2.2 billion to 164 private health care and life sciences projects in 53 countries. IFC-supported health projects treat about 12 million patients annually. IFC’s Venture Capital Division provides equity financing to early and growth-stage companies across sectors including clean technology, information technology, healthcare, education, and agribusiness.
IFC, Washington D.C. Elizabeth Price Phone: (202) 458-0387 E-mail: email@example.com