New Delhi, June 3 -- Avis Hospitals India Ltd, which operates single-specialty facilities for varicose vein treatment, is in an advanced stage of talks to close a private equity funding round as it looks to increase its clinical footprint, two people familiar with the matter told VCCircle.
The Hyderabad-headquartered hospital operator is in discussions with at least two private equity firms to raise around Rs 50-60 crore, the people said, asking not to be named. They declined to identify the PE firms.
The company may also seek to raise a larger capital raise following the current round, one of the persons said.
Both the persons said that the company plans to increase its hospitals from 25 centres to 50 in the next 12-24 months and set up a large hospital in a metro city after three to four years.
Avis has signed term sheets with two investors and is currently in talks with another, one of the people cited above said. Both the persons claimed the company attracted interest from several large private equity firms for a significant stake. However, the promoters are not seeking a buyout, the first person said.
Private market investment banking firm Equity 360, which advised Avis on its venture capital round last year, is returning as an advisor for the latest transaction.
Avis Hospital founder Rajah Koppala declined to comment. Queries sent to Equity 360 remained unanswered till the time of publishing this article.
Founded in 2010, Avis operates single-specialty hospitals to treat varicose veins using minimally invasive procedures such as laser therapy. According to the company's website, it operates more than 25 centres and has treated over 55,000 patients. It has a presence in Andhra Pradesh, Telangana, Maharashtra, Karnataka, Tamil Nadu, West Bengal, Delhi and Haryana.
Last year, Avis Hospital raised $2.5 million (Rs 21.4 crore at the time) in a growth capital round from Nabventures, the venture capital arm of the National Bank for Agriculture and Rural Development (NABARD). The capital was raised to fuel its expansion to more than 15 Tier-2 and Tier-3 cities, increase its capacity to provide specialised care, invest in technology-driven diagnostics and set up mobile screening camps to identify and treat patients in remote rural areas.
The second person cited above said Avis recorded Rs 70 crore in revenue in 2025-26 and aims to close the current fiscal year at Rs 90-100 crore. As per VCCEdge, the company's revenue grew 13.5% to nearly Rs 37 crore in 2024-25 while it clocked an EBITDA and net profit of Rs 3.8 crore and Rs 1.3 crore, respectively.
About 15-20% of the Indian population suffers from vein-related diseases, often as a result of occupations that involve standing, according to an industry study. The market for varicose vein treatment in India is expected to grow at a compound annual rate of 6.1-6.7% to roughly $160 million by 2033, as per industry estimates.
Published by HT Digital Content Services with permission from VC Circle.