Omega Hospitals has raised ₹500 crore from a fund managed by Morgan Stanley Non-public Fairness Asia.

The funding by the Fund in Hyderabad Institute of Oncology Pvt Ltd, the entity behind the healthcare supplier, will help the bold plans of Omega Hospitals to develop its presence throughout a number of States within the nation.

That is its first personal fairness fund increase and the capital will assist the corporate develop its footprint throughout Telangana and Andhra Pradesh in addition to Karnataka, Maharashtra, Tamil Nadu, Madhya Pradesh and West Bengal, Omega Hospitals mentioned in a launch on Wednesday.

Led by well-known surgical oncologist Dr. Mohan Vamsy, Omega Hospitals is India’s second largest cancer-focused hospital chain with at the least 10 hospitals in a number of cities and a 1,400 mattress capability.

The partnership with Morgan Stanley PE Asia will assist speed up the healthcare supplier’s mission to ship high-quality, full-service most cancers care choices in India amid the rising incidence of most cancers lately. “We’re excited to construct Omega Hospitals into India’s largest most cancers care chain within the subsequent few years,” Dr. Vamsy, who’s the managing director, mentioned.

“The plan is to develop the enterprise by means of a mixture of natural growth and inorganic acquisitions throughout the markets. The funding from Morgan Stanley will catalyse our development plans and assist set up management place in most cancers care,” president Haragovind mentioned.

“From an Asia perspective, we’re seeing a big alternative within the Indian single specialty hospital house. This may mark our second funding in an Indian most cancers hospital chain inside a span of 12 months,” MD and co-head of Morgan Stanley PE Asia Arjun Saigal mentioned.