Asian Development Bank to invest in dialysis firm
The Asian Development
Bank (ADB) has agreed to invest $10 million of equity in DCDC Healthcare Services Private Limited (DCDCPL), a company providing dialysis and ancillary services to end-stage renal disease, to help enable the establishment of critical healthcare infrastructure in India and Sri Lanka. ADB’s financing will also include a $5 million equity investment made on behalf of Leading Asia’s Private Infrastructure Fund (LEAP), one of ADB’s co-financing vehicles dedicated to private sector infrastructure in Asia and the Pacific. The Japan International Cooperation Agency supports LEAP, launched in August 2016, through a $1.5 billion equity commitment. The agreement was signed by ADB Principal Investment Specialist for Private Sector Operations Mayank Choudhary and DCDCPL’s Founder and CEO Aseem Garg at a ceremony in New Delhi. DCDCPL offers dialysis care at its public-private partnership (PPP) centers in government hospitals, along with its centers at private hospitals and two standalone clinics. It is the second largest operator of PPP dialysis centers in India. ADB’s investment will allow the company to expand its network to more than 180 centers and increase its geographic presence by covering more states in India, as well as starting a network of centers in Sri Lanka. ADB will also assist DCDCPL in capacity building, including developing human resources, improving systems and processes, and standardizing care quality.