New Delhi-based Moolchand Healthcare Pvt. Ltd has raised Rs.100 crore from venture capital and private equity investor Sequoia Capital in lieu of a minority stake.
Moolchand has plans to invest Rs.500 crore over three-to-five years for expanding its hospital in Delhi, build more hospitals in the National Capital Region, acquire hospitals across India, and set up fertility, diagnostics and renal-care centres.
About Sequoia Capital
It is the firm which has a history of funding Apple, Google, YouTube and LinkedIn. Sequoia Capital in India has invested in more than fifty companies during the past decade.It has offices in Bangalore, Mumbai and New Delhi. In healthcare field in India, it has funded Vasan Healthcare Pvt. Ltd, Paras Pharmaceuticals Ltd, Glocal Healthcare Systems Pvt. Ltd and hyderabad-based Celon laboratories.
About Moolchand
Moolchand Healthcare is providing healthcare services for over five decades in the Capital with more than 50 specialties. Historically, Genesis of Moolchand Hospital comes from Moolchand Trust that was created in 1928 at Lahore, present day Pakistan and was started with an initial endowment of Rs. 4 million. It is the first multispecialty hospital in North India to receive National Accreditation Board for Hospital and Healthcare Providers (NABH) Accreditation.