Earlier this year, ASG Eye Hospitals acquired Vasan Eye Care after final approval from the Chennai bench of the National Company Law Tribunal (NCLT). The transaction was approved in February by an overwhelming vote of the Committee of Creditors and officially closed the following month. It was one of the largest private healthcare mergers in Indian history.
What Does the Merger Mean for Vasan Eye Care?
The merger marks an important milestone in the history of Vasan Eye Care, which began in 1947 as a humble pharmacy-based vision care provider and has since grown into the largest independent operator of standalone eye care clinics and surgical centers in India.
Vasan operates approximately 100 clinics and hospitals across the country, with a particular focus on South India. Its footprint complements ASG Eye Hospitals’ existing footprint elsewhere in the country, and the combined entity now has more than 150 locations in every region of India.
What Does the Merger Mean for Vasan Eye Care Patients?
Operationally, nothing will change for current and future Vasan Eye Care patients. Everyone who visits a Vasan Eye Care center can expect the same high level of service and care that they received in the past. And with even more clinics and surgical centers across India, the combined organization is now in a position to reach even more Indians in need of specialty eye care.
Who Is ASG Eye Hospitals?
ASG Eye Hospitals is a major provider of vision care and surgical services in India. Prior to the merger, it was the second-largest independently operated eye care provider in the country (second only to Vasan). And, like Vasan, it had developed a reputation for excellent service and path breaking techniques.
ASG grew rapidly during the 2010s and early 2020s as it pursued an expansion strategy focused on underserved urban and secondary markets within India. The company added more than 20 new centers between 2017 and 2022, raising its total count to more than 50. It had less of a presence in the southern part of the country, which is one reason its merger with Vasan made so much sense from a business perspective.
What’s Next for Vasan Eye Care and ASG Eye Hospitals?
The future is always uncertain, but it’s clear that the merger with ASG Eye Hospitals puts Vasan Eye Care on even stronger footing than before. The combined entity is now in a position to serve patients all across India and solidify its reputation as the country’s leading provider of specialty vision care and surgical services. It’s well set up to invest in new services and techniques to expand its array of care options even further.
This merger wouldn’t have happened had leadership at Vasan and ASG not deemed it in the best interest of both organizations and, more importantly, in the interests of their patients and team members.
It’s an exciting time for the vision care industry in India. Now begins the difficult but fulfilling work of realizing the industry’s full potential while working towards exceeding patient expectations every day.