*Nova Medical Centers*, the specialised day care surgery center, has raised its second round of funding for its Rs.250 Cr project. This investment has been jointly made by two US based venture capital firms - *GTI Group and New Enterprise Associates (NEA)*.
The funding will help in Nova’s expansion plans to set up 25 specialised day care surgery centers across India in the coming months. GTI LLC conceived and incubated Nova and is the largest shareholder in the company. Nova raised $3.5 mn from GTI LLC in its initial round of funding. The GTI Group is participating in Series A funding, and will continue to provide business leadership and business development acumen to Nova which will include forging strategic partnerships with internationally renowned health care providers, practitioners and regulatory bodies. The entry of NEA as an investor in the Series A funding is driven by NEA’s strong domain expertise in the healthcare sector. NEA founded in 1978, is a leading venture capital and growth equity firm with approximately US$11bn of committed capital. Its focused investments includes healthcare, information technology and energy technology sectors. This includes outpatient healthcare facilities in the US. Internationally, almost 70% of all surgeries are conducted as day care surgeries and this trend is on the rise in India as well. Transaction Note In Jan 2010, NEA, which raised $2.5 bn global fund planned to $375 mn (15%) in India. t is looking to close three to four deals in India every year have targeted a ticket size of $30 -80 million for our investments in India. Lst year Last year, the firm invested $13 m in *RT Outsourcing*, reverse logistics player and also invested in electronic payments processing firm *Financial Software & Systems (P) Ltd* for $60 mn with Jacob Ballas Capital. NEA also funded $6 mn to ValueFirst Messaging, a Delhi-based mobile messaging services provider. Last year in Feb, Global Technology Investment Group (GTI), set up a wholly-owned subsidiary to invest Rs 250 crore into Indian healthcare sector. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
