Mubasher: Leading alternative investment products provider Investcorp will invest 316 crore Indian rupees ($44.19 million) into Nephrocare Health Services Private (NephroPlus), the Manama-based company said.

The investment by Investcorp, which manages more than $28 billion worldwide, came within its strategy to tap into sustainable business models in the mass consumption-fuelled Indian market.

The capital raised in this investment tranche will be used for organic domestic growth, as NephroPlus aims to establish a regional network of dialysis centres across India and other countries in Asia as well as in the Gulf region.

The need for dialysis services is substantially unmet in India, with only an estimated 15% of more than 1.2 million patients in India with kidney failure having access to dialysis.

“NephroPlus meets every criteria Investcorp looks for in an investment: outstanding founders supported by a solid team, impeccable clinical quality adherence and market leadership focused on providing access to high quality services at an affordable price point across a large and growing addressable market,” Investcorp India’s private equity co-head Gaurav Sharma said.