India’s Premji Invest backs local healthcare chain NewEra
- Three new hospitals to be built in Nagpur
- NewEra Hospitals to increase bed capacity to 800 with the capital infusion
- Investment aimed at improving Nagpur’s hospital infrastructure
Bangalore-based investment firm Premji Invest has invested in multispecialty healthcare company NewEra Hospitals, according to a statement today.
The capital will fund the launch of three new hospitals in Nagpur city in the state of Maharashtra.
NewEra Hospitals currently has two hospitals in Nagpur and one hospital in Navi Mumbai, with a combined capacity of 350 beds and a team of more than 250 doctors and consultants.
The capital infusion will help it expand its footprint to 800 beds in the near-term, according to the statement.
“Nagpur, in particular, requires a higher bed density and an improvement in hospital infrastructure,” said Prakash Chellam, partner and head of healthcare and life sciences at Premji Invest.
NewEra Hospitals was founded in 2016 by veteran doctors Anand Sancheti, Nilesh Agrawal, and Nidheesh Mishra.
NewEra Hospitals was advised by mid-market investment banking firm Novem Advisors.
