Vasan Healthcare
| Vasan Hospital | |
|---|---|
| Vasan | |
| Geography | |
| Location | Chennai, Tamil Nadu, India |
| Organisation | |
| Care system | Private |
| Funding | For-profit hospital |
| Type | Specialist |
| Services | |
| Speciality | Eye care |
| History | |
| Opened | 2002 |
| Links | |
| Website | vasaneye |
| Lists | Hospitals in India |
Vasan Healthcare Group is a healthcare group in India. Founded by A. M. Arun, the group is based in Trichy and has more than 170 eye care hospitals in India and 27 dental Hospitals across 4 states in South India. The company also operates two multi-speciality hospitals in Trichy.[1] Vasan Eye Care Hospitals are day-care centres for treating eye ailments. They started their first hospital in Kerala, India in 2010 in Kozhikode. The corporate office of the hospital is located in Chennai.
History
[edit]
Vasan Medical Centre, a chain of medical stores, was established at Trichy and Thanjavur in 1947 by the late AR Murugaiah, former MP of Karur constituency. His son Dr. AM Arun, the founder of Vasan Healthcare Group, took over the business in 1991 after the sudden demise of his father. He established a diagnostic centre and laboratory and later founded two multi-speciality hospitals in Trichy. AM Arun (died 16 November 2020[2]) started the group's first eye care hospital in 2002 in Trichy.[3]
Vasan Healthcare expanded rapidly in the early 2010s. As part of this growth, various businesses invested in Vasan. Among them are Sequoia India, Singapore government-backed GIC Investment, and WestBridge Capital, an Indian private and public equity fund. GIC Investment committed $100 million in mid-2012. In 2014, Sequoia India and WestBridge Capital together committed around $50 million over three rounds into Vasan.[4]
Controversies
[edit]In September 2015, a Chennai based chartered accountant S Gurumurthy had alleged that former Finance Minister of India, P. Chidambaram had used firms to launder black money using the Vasan Eye Care hospital chain, which he and his son owned through benami companies.[5][6]
Insolvency
[edit]In 2017, the insolvency process was started based on the order of the National Company Law Tribunal in Chennai, India, in a petition filed by Alcon Laboratories (India) Pvt. Ltd., a supplier. The legal proceedings started after a legal stay for the action from 2017 to October 2019.[7]
References
[edit]- ^ "Vasan Healthcare founder AM Arun dies at 52". BusinessLine. 16 November 2020. Retrieved 13 November 2023.
- ^ "Vasan Eye Care founder Dr AM Arun, 51, dies in Chennai". The Indian Express. 17 November 2020. Retrieved 13 November 2023.
- ^ Subramanian, T. S. (28 July – 10 August 2012). "Health marvel". Frontline. 29 (15). The Hindu. Retrieved 24 July 2012.[dead link]
- ^ Badrinath, Raghuvir (19 February 2014). "WestBridge, Sequoia eyeing bumper returns from Vasan". Business News. Retrieved 13 November 2023.
- ^ "ED raids Vasan Eye Care and other companies linked to Karti Chidambaram". www.thenewsminute.com. Retrieved 1 December 2015.
- ^ "P Chidambaram, Vasan Eye Care and Rs 223 Crore Black Money". www.newindianexpress.com. Retrieved 17 September 2015.
- ^ "Vasan Health Care insolvency process cannot be started afresh, says National Company Law Tribunal". www.thehindu.com. Retrieved 12 August 2021.