Indian optical chain to invest Sh1.2 billion
Business
By
Brian Ngugi
| Jan 02, 2023
India-based Dr Agarwal's Eye Hospital, which handles complicated eye cases, plans to expand its Kenya operations after opening its first eye unit in Nairobi four years ago.
The eye care chain announced last week that it has set aside Sh1.19 billion for new eye clinics in Kenya, Tanzania, and Nigeria.
It was not immediately clear where the new eye care unit will be set up. The hospital had 2019 expressed interest to expand across the country.
The over 60-year-old Bombay Stock Exchange (BSE) listed eye care chain said that the new proposed facilities in Kenya and Tanzania would target patients from the wider East Africa region.
It already has a unit in Rwanda.
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"As part of our expansion strategy, we will open 35 more hospitals in India and one each in Tanzania, Kenya and Nigeria," said the hospital's chief executive Adil Agarwal in an interview with Indian media.
Currently, the eye-care chain manages 135 hospitals in its network out of which 114 are in India and the rest in Ghana, Kenya, Mauritius, Mozambique, Madagascar, Nigeria, Rwanda, Tanzania, Uganda, and Zambia
The firm follows in the footsteps of several Indian giant chains which have established a footprint in Kenya to capitalise on the huge demand for India's specialist medical services.
For instance, Healthcare Global Enterprises Ltd (HCG) - one of India's largest cancer treatment hospital chains - earlier announced it had agreed to buy a majority stake in a Kenyan cancer care centre.
This is also as private Kenyan firms are also expanding healthcare services in the country in a race to plug gaps in the relatively poor public health infrastructure.
Kabarak University plans to set up a Sh35 billion hospital in Nakuru County.
Top private hospitals in Kenya including the Aga Khan University Hospital, Nairobi Hospital, Karen Hospital, MP Shah Hospital, and Avenue Hospital among others are also seeking expansion.