Norwest Venture Partners has invested INR 450 crore in Regency Healthcare
By siliconindia | Thursday, November 9, 2023
Regency Healthcare has just announced a strategic investment of Rs 450 crore from Norwest Venture Partners. This significant capital infusion will allow Regency Healthcare to solidify its presence in the healthcare landscape of Uttar Pradesh, with plans to increase its bed capacity to 2400 by 2026. The strategic investment will significantly expand Regency’s infrastructure and services, directly benefiting the people of UP. Regency is scheduled to open 250 beds in Gorakhpur by August 2024, 450 beds in Kanpur by January 2025, and 350 beds in Varanasi by January 2026. Additionally, Regency is actively exploring opportunities in Bareilly and Agra.
Regency Healthcare's Executive Director, Abhishek Kapoor, expressed his enthusiasm towards partnering with Norwest Venture Partners in their transformative journey. He states that the investment will significantly improve their infrastructure and services, which will directly benefit the people of Uttar Pradesh. Their mission to serve the people of UP aligns with their unwavering ethos of 'From UP For UP.' Dr. Atul Kapoor, the Managing Director of Regency Healthcare, emphasized that the investment is a testament to the trust and belief that Norwest Venture Partners has placed in them. He further added that their aim is to revolutionize healthcare delivery in Uttar Pradesh, and this capital infusion will be instrumental in achieving their vision. The upcoming multi-specialty tertiary hospitals in Gorakhpur, Kanpur, and Varanasi are expected to set new benchmarks in healthcare excellence.
Norwest India's Managing Director, Shiv Chaudhary, has expressed confidence in the partnership with Regency, which is a leader in Uttar Pradesh- the largest healthcare market in India by population. The collaboration aims to elevate healthcare standards, drive positive societal change, and redefine healthcare benchmarks that will positively impact the lives of Uttar Pradesh's residents. With Uttar Pradesh emerging as an economic powerhouse, the potential for impactful investments is immense. This partnership is a significant step towards realizing Regency's growth aspirations.
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