Quadria Capital, Singapore's healthcare-focused private equity firm, announced a $1 billion investment in Maxivision Eye Hospital, one of India's leading private eye care chains.

Quadria will invest approximately 600 crore for a significant minority stake, followed by an additional investment of up to 700 crore for additional stake, representing one of the largest investments in the eye care services space.

The investment will help the Hyderabad-based eye care chain scale and meet India's growing demand for eye care, particularly in tier 2 and tier 3 cities that are underserved by the Indian eye care market.

Founded in 1996 by renowned ophthalmologist Kasu Prasad Reddy, Maxivision was subsequently acquired by GSK Velu in 2010.Maxivision operates 42 centres in five states across South and West India, with a leadership position in Andhra Pradesh and Telangana. The company offers a full suite of eye care services, including cataract surgery, LASIK and ReLEx Smile treatments, treatments for retinal issues and glaucoma, oculoplasty, as well as neonatal and paediatric eye care.

"Quadria's expertise, capital, and focus on operational value creation will put us in an even better position to keep scaling, innovating, and delivering for patients seeking affordable and quality eye care," said GSK Velu, promoter and chairman of Maxivision.