LVMH-backed L Catterton invests around $30 million in Healing Hands Clinic
Global private equity firm L Catterton has invested in Healing Hands Clinic, India’s largest proctology-focused specialist chain, according to a press release.
Although the valuation of Healing Hands Clinic has not been publicly disclosed, the investment size was determined to be approximately $30 million, according to sources familiar with the matter.
This marks the first external funding for Healing Hands launched so far since its founding in 2013.
The investment will support the expansion of the Healing Hands network, which currently includes 36 clinics across 14 cities in India. Founded by Ashwin Porwal, Snehal Porwal and Roshan Porwal, the company focuses on treating conditions such as hemorrhoids, fissures, fistulas and chronic constipation.
Increasingly sedentary lifestyle and growing awareness of minimally invasive procedures have increased the demand for proctology services in India.
Healing Hands offers outpatient and inpatient treatment services by combining traditional medical treatments with minimally invasive techniques and plant-based products. It has grown steadily over the last decade, becoming the only specialist clinic chain in this niche segment.
The organization offers a franchise model for proctology centers: Doctors can operate branded outlets, while Healing Hands manages most of the center capital expenditures/operating expenses and provides training and operational support.
They have introduced laser treatment for piles and fistulas for the first time in India and have introduced colon hydrotherapy, manometry, biofeedback etc. They claim to offer diagnostic/therapeutic methods such as.
The announcement comes after L Catterton launched a $600 million consumer-focused fund in July this year. The fund completed its first close at $200 million and is targeting 7-9 middle market deals ranging from $25 million to $150 million each.
Investors include the International Finance Corporation (IFC), which has committed $30 million, with an option to invest an additional $30 million.
L Catterton manages approximately $38 billion of equity capital in private equity, credit and real estate. Since its founding in 1989, it has made more than 300 investments in consumer businesses around the world.
The company’s global portfolio includes healthcare brands such as ClearChoice, Ideal Image, PatientPoint and FYidoctors, as well as consumer names such as Peloton and Birkenstock.
Backed by LVMH Moët Hennessy Louis Vuitton, L Catterton focuses on scaling consumer businesses in categories such as food and beverage, healthcare-focused services, restaurants and branded retail.
