NEW DELHI, Aug 10: Multi-speciality dental clinic chain Axiss Dental plans to add 35 new clinics, including through acquisitions, in India by end of 2015 as part of its expansion strategy.
The company, which currently has 65 clinics is focusing mainly on Western India, where it is targeting to acquire a chain of dental clinics.
“We plan to open 35 new clinics by end of 2015 as part of our expansion plans and will be investing nearly Rs 21 crore for this,” Axiss Dental Pvt Ltd Promoter and Director Sandeep Sharma told PTI.
Elaborating on the expansion strategy, he said the company is mulling both organic and inorganic routes and the new clinics will be mainly in the western part of the country.
“Earlier we had acquired Bangalore-based Narayana Hrudayalaya Dental Clinics and added 28 clinics through inorganic route. Now we are looking at acquiring a chain of dental clinics in Western India,” Sharma said.
Asked about funding, he said:”It would be a mix of internal accruals and equity. We are a private equity invested company.”
The company, founded in 2004, had earlier raised an amount of Rs 44 crore from India Equity Partners, a private equity firm. (PTI)
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