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FoxMandal breakaway SRGR advise on $11.2m Matrix hospital investment with AZB

AZB & Partners has acted for private equity (PE) firm Matrix Partners India in its Rs 50 crore investment in New Delhi based eye-care hospital chain Centre for Sight (CFS) which was advised by SRGR Law Offices.

The SRGR Law Offices team was represented by co-founding partner Saroj Jha and senior associate Akshat Pande. The AZB team was led by Partner Abhijit Joshi.

The funds raised would be utilised for expansion as well as acquisition of certain private eye care hospitals in tier II and tier III cities. As part of the deal Avnish Bajaj, co–founder and managing director of Matrix India will join the Board of Directors of CFS.

CFS is a chain of specialty Eye Hospitals currently operating at ten locations across North India with five more hospitals being opened by year end.

Private Equity Funds are showing a lot of interest in the healthcare space, especially in super specialty healthcare providing day care procedures requiring less investment in real estate and having faster break-even.

SRGR was founded in December 2009 by four FoxMandal partners.

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