India-based Sri Kauvery Medical Care Pvt Ltd., which runs the Kauvery Hospital chain, has bagged circa 140 crore rupees ($20 million) in equity financing.
The company secured the new capital from Indian impact investment platform LGT Lightstone Aspada, a subsidiary of LGT Group Foundation.
Sri Kauvery Medical intends to use the new funds to strengthen the presence of Kauvery in Tamil Nadu and to expand its footprint across south India.
Furthermore, the company is aiming at adding 12 to 15 hospitals, with an aggregate capacity of more than 3,000 beds, to its network over the next 3 to 5 years, with a major focus on South India.