Quadria Capital on Monday said it has invested $102 million in India’s largest dialysis chain NephroPlus, picking up a minority stake in the company as the Asia-focussed private equity firm keeps investing in regional healthcare providers.

“The transaction will support NephroPlus in serving the growing demand for high quality, affordable dialysis services across India and other markets in Asia,” Singapore-headquartered Quadria said.

The PE firm expects demand for dialysis, a blood purifying treatment for kidney disorders, to grow over the next five in the markets it is targeting to grow.

The Economic Times on Friday reported that the fresh investment values NephroPlus at more than $239.6 million.

NephroPlus operates about 450 dialysis centres and operates in three main countries namely India, the Philippines and Uzbekistan.

Quadria, which manages total assets of over $3.4 billion, has in the past invested in other Indian healthcare providers including eye-care chain Maxivision and oncology network HCG.

Reuters