NephroPlus raises Rs. 69.5cr loan for expansion
NephroPlus, a city-based dialysis network, said it has signed an Rs 69.5-crore financing package with Asian Development Bank (ADB) to further its expansion plan in Uzbekistan, for building four dialysis centres.
image for illustrative purpose
Hyderabad: NephroPlus, a city-based dialysis network, said it has signed an Rs 69.5-crore financing package with Asian Development Bank (ADB) to further its expansion plan in Uzbekistan, for building four dialysis centres. The transaction is a broader partnership with the Ministry of Health, the Republic of Uzbekistan, after securing a contract worth $100 million, wherein NephroPlus will independently commission and operationalise these centres.
The transaction comprises a loan of up to Rs 41.7 crore from ADB's ordinary capital resources and administration by ADB of a loan of up to Rs 27.8 crore from Leading Asia's Private Infrastructure Fund (LEAP). NephroPlus said it will primarily use the funds to design, build, operate and maintain the dialysis centres in Tashkent city, the Republic of Karakalpakstan, and the Khorezm region. The dialysis centre in Tashkent with 160 machine capacity will be the largest dialysis centre in the world, it added.
NephroPlus has established a wholly-owned local subsidiary to operate the centres for this project. "We are happy to be the private partner for Uzbekistan's first international health care PPP and to embark on a relationship with an international financier such as ADB as we continue to grow our operations," Founder and CEO of NephroPlus, Vikram Vuppala said.
Under this deal, ADB will also support NephroPlus in enhancing and implementing a gender action plan to increase women's participation in technical and skilled work in dialysis treatment centres.
"this project will improve the availability and accessibility of much-needed dialysis services in the country. This project demonstrates how the private sector can play a role in closing the critical gaps in health care service delivery," ADB's Private Sector Operations Department Investment Specialist, Amanda Tan said.
