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Matrix Partners India invests INR 50 crore in Centre for Sight

New Delhi, India, October 18, 2010 Matrix Partners India today announced that it has invested Rs. 50 crore as the sole investor in the funding of New Delhi Centre for Sight (CFS) – a leading chain of specialty Eye Hospitals currently operating at ten locations across North India with five more hospitals being opened by year end. CFS was also recently awarded Eyecare Provider Company of the Year at the Frost & Sullivan 2010 Indian Excellence in Healthcare Awards. CFS was started by its Chairman & Medical Director, Dr. Mahipal S. Sachdev, a renowned ophthalmic surgeon who has many National and International awards to his credit. Most notably, he was awarded the Padmashree by the Government of India for his excellence in the field of Ophthalmology and associated service to the Nation. Commenting on the investment, Dr. Mahipal Sachdev said, “This capital infusion provides CFS the growth capital to further expand and achieve its vision of creating a network of more than 60 eye hospitals within a period of 3 years and becoming one of the largest eye hospital chains across India. Part of the expansion will be brownfield with proposed acquisitions of certain private eye care Hospitals in Tier II and Tier III cities. This expansion will require a total investment of Rs. 200–250 crores which will be funded by internal accruals, debt and equity.” “It is our privilege to be associated with Dr. Sachdev who is a world renowned expert in his field and also an outstanding entrepreneur. Given the under penetration of Healthcare in India, specialty Healthcare Services is an important focus area for Matrix. Combining the reputation, brand and patient care focus of CFS and the growing need for high quality eye care in the country, we believe that CFS can be a very large business in the next few years,” added Avnish Bajaj, co–founder & Managing Director, Matrix India. With this investment, Avnish Bajaj will join the Board of Directors of CFS. About Centre for Sight: Centre for Sight (CFS) is a chain of specialty Eye Hospitals which within a short span has become an icon of dynamic progress in the field of ophthalmology – with multiple Centres running across NCR and beyond including centres all over Delhi, Faridabad, Gurgaon, Moradabad, Agra and Jodhpur. With its current expansion plans, CFS is well on course to be the largest eye care service provider across North India. CFS stands apart due to its state of the art equipment and infrastructure and personalized patient care. CFS extends its services to all of the ophthalmic specialties including Blade-free iLasik, Micro Incision Cataract Surgery (1.8mm), Glaucoma services, Vitreo Retinal Services, Uvea, Corneal Services, Squint, Paediatric Ophthalmology, Neuro Ophthalmology, Oculoplasty & Tumours, Opticals & Low Vision Aids, Contact Lenses and Comprehensive Eye Check–up. Currently CFS provides the facilities in more than 65,000 sq. ft., twenty Operation theatres, six lasik machines and plans to add another 35000 sq. ft. of space this year. The planned hospitals are in Ludhiana, Jammu, Hisar, Bhiwani, West Delhi, Noida. CFS has served more than two lakhs people visiting us from all parts of the country and abroad. Further information is available at www.centreforsight.net About Matrix Partners India: Matrix Partners India is an investment firm with Rs. 1,500 crores under management. The firm invests in companies targeting the Indian domestic market with a sector independent investment strategy focused on generating exceptional returns. The firm invests up to Rs. 125 crores in a company depending on its stage of development and has invested in several companies including Muthoot Finance (largest Gold Loan NBFC), BSFL/BASIX (leading Microfinance Institution), FIITJEE (largest engineering test Preparation Company), Itzcash Card (leading prepaid card), Siesta Hospitality (corporate serviced apartments) and Tree House (preschool and K-12 schools) among others. The Mauritius based fund’s investors include leading university endowments and family foundations. Matrix Partners has a global network of funds investing in the US, China and India with $2 billion under management. Further information is available at www.matrixpartners.in

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