Dealflow | April 20, 2017

India’s Diabetes Specialities Centre raises $10 million to expand clinic network

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India’s Diabetes Specialities Centre has raised $10 million to expand its clinic network.

The 26-year old venture fighting diabetes in India raised its first round of institutional capital. Dr. Mohan’s Diabetes Specialities Centre attracted $10.2 million from Lok Capital and the Evolvence India Fund.

The Chennai-based company, headed by Dr. V. Mohan, has two hospitals and 23 clinics in seven Indian states and will use the funds to expand to 100 healthcare centers over four years.

India has 70 million cases of diabetes, which is expected to grow to 100 million by 2030.

Non-communicable diseases account for 60 percent of deaths in India and could cost the country $4.6 trillion in economic growth and productivity by 2030.

This post originally appeared in ImpactAlpha’s daily newsletter. Get The Brief.

Photo credit: Diabetes Specialities Centre / YouTubet