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Wellspring Healthcare eyes to raise Rs 60 crore via private equity

MUMBAI: Wellspring Healthcare, which operates a chain of primary healthcare clinics, is looking to raise Rs 50-60 crore in the current year to fund its expansion plans. 

"We are in the process of raising Rs 50-60 crore through 
private equity funding in the current fiscal. Healthspring is embarking on to fund the next stage of growth, focused on national expansion as well as select lateral growth moves. The process will start in the next 3-4 months," Wellspring Healthcare CEOKaushik Sen told PTI here. 

The company runs the chain of clinics under the brand name Healthspring Community Medical Centres. 

It has set up 3 community medical centres in Mumbai and hopes to add four more this year. The company plans to set up 200 centres across the country, which includes 40 in Mumbai over the next 3-4 year's period, Sen said, adding that it will open medical centres in New Delhi, Hyderabad and Bangalore in 2014. 

Healthspring has raised a second round of funding of Rs 22 crore last month from 
Asian Healthcare Fund (AHF), an Indian healthcare focused private equity fund. 

Healthspring said it focuses on providing 
modern family medicine through a chain of community medical centres. These centres offer one-stop shop for patients with pharmacy, diagnostics and routine minor procedures all under one roof.