Matrix Partners India has invested Rs 45 crore in the first round of institutional funding for Kids Clinic India Pvt Ltd, which provides maternity and infant care under the brand Cloud Nine.
This is the second healthcare investment by Matrix, which invests in venture and growth-stage transactions. Last year, it had invested Rs 50 crore in Centre for Sight (CFS), a chain of specialty eye hospitals.
Kids Clinic, founded in 2007, currently operates two facilities in Bangalore and has more than 6,500 deliveries to its credit. In addition to maternal care, Cloud Nine also provides gynaecology and neonatal care services.
Its immediate expansion plans include opening three more facilities in Bangalore. The company also plans to expand across other metros. Besides Cloud Nine, Kids Clinic has also branched out into fertility services under the brand Sure Fertility in which the company claims to have a success rate of above 56 per cent.
Dr R. Kishore Kumar, managing director and co-founder of Kids Clinic India Pvt Ltd has said in a statement that the country has lagged behind the global standards in quality maternal and infant care. “To address this gap, we have introduced the concept of ‘celebrating’ motherhood while maintaining high standards of health outcomes, through our Cloud Nine and Sure Fertility brands,” he adds.
“Specialty healthcare services constitute an important focus area for Matrix as they satisfy a growing demand for Indian consumers whose disposable income and awareness of quality care are on the rise. We believe Cloud Nine and Sure Fertility can capture a large share of the growing demand for quality maternity and infant care in India,” said Avnish Bajaj, co-founder and managing director, Matrix India.