NephroCare Expands to 500 Clinics Across India and Abroad Ahead of IPO Launch

Mumbai, 8 October 2025: IPO-bound NephroCare Health Services IPO has achieved a major milestone, expanding its network to 500 dialysis clinics across India, Nepal, the Philippines, and Uzbekistan, up from a single clinic in 2010. The expansion enables the company to serve over 33,000 patients annually, reflecting significant growth in both domestic and international dialysis care services.

Headquartered in Hyderabad, NephroCare Health Services operates the NephroPlus brand and is a leading provider of dialysis care across India and select international markets. The company combines technology-enabled healthcare services with strategic partnerships to expand its footprint, offering dialysis solutions in collaboration with hospitals, non-profits, and private providers.

Rapid Expansion in Tier II and Tier III Cities Drives Access to Dialysis Care

As of 31 March 2025, NephroCare operated 125 clinics in tier II cities and 218 clinics in tier III cities in India. During FY25, the company created 1,642 jobs and trained 132 dialysis technicians, enhancing accessibility in underserved regions. The growth in smaller cities has contributed to stronger brand presence and operational scale, allowing the company to provide consistent patient care across emerging urban and semi-urban areas.

Rohit Singh, Group Chief Executive Officer of NephroCare Health Services, highlighted that reaching 500 clinics reflects a combination of patient trust, strategic partnerships, and a dedicated workforce, reinforcing the company’s mission to expand dialysis care nationwide.

International Expansion and Strategic Partnerships Accelerate Global Footprint

NephroCare’s entry into international markets, including the Middle East, was driven by a joint venture with Arabian International Healthcare Holding Company, part of the Al Faisaliah Group, to establish operations in the Kingdom of Saudi Arabia (KSA) during FY24.

The company is also pursuing brownfield growth opportunities, acquiring and managing existing dialysis centres operated by hospitals, non-profits, or private providers outsourcing dialysis services. This strategy has accelerated the expansion of its global footprint while leveraging operational expertise and local partnerships.

Robust Financial Performance in FY25 Reflects Operational Efficiency and Growth

NephroCare reported total revenue of ₹755.81 crore in FY25, up 33% from ₹566.16 crore in FY24, demonstrating strong year-on-year growth. Net profit surged to ₹67.1 crore from ₹35.13 crore, reflecting improved operational efficiency, scaling benefits, and disciplined cost management. The robust financial performance underscores the company’s ability to expand its network while maintaining profitability.

Upcoming IPO to Raise ₹353.4 Crore and Support Further Expansion

The company filed draft papers with the Securities and Exchange Board of India (SEBI) in July 2025 for an IPO comprising a fresh issue of shares worth ₹353.4 crore and an offer for sale (OFS) of 1.27 crore shares by promoters and existing shareholders.

Of the fresh issue proceeds, ₹129 crore is earmarked to open 167 new dialysis centres across India by FY28, further strengthening NephroCare’s position in the country’s dialysis care infrastructure. The IPO aims to provide capital to sustain expansion and support ongoing operational initiatives.

NephroCare’s expansion to 500 clinics across four countries highlights the company’s strategic focus on scaling operations, improving patient accessibility, and leveraging both greenfield and brownfield growth opportunities. The robust revenue and profit growth in FY25 demonstrate operational efficiency and set the stage for further network development supported by the upcoming IPO proceeds.

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