Maxivision Group invests in Ojas Group to expand eye hospital network in Maharashtra

Maxivision Group of Eye Hospitals has picked up majority stake in Mumbai-based Ojas Group of Eye Hospitals for an unspecified amount, to foray into Maharashtra.

Together, the newly-formed Joint Venture (JV) called Ojas Maxivision Eye Hospitals aims to invest Rs.500 crore in two years to expand operations across Maharashtra.

With this, Maxivision has established its presence in six States, including Telangana, Andhra Pradesh, Tamil Nadu, Gujarat & Kerala.

Under the leadership of Dr. Niteen Dedhia, Ojas Group of Eye Hospitals currently operate three premier centers in Mumbai—Bandra (W) and Kandivali (E)—providing eye care with international standards to patients. 

Maxivision Super Specialty Eye Hospitals was founded by Dr. Kasu Prasad Reddy in 1996 and was subsequently acquired by Dr. GSK Velu in 2011.

Dr. GSK Velu, Promoter and Chairman of Maxivision Super Specialty Eye Hospitals, said “Our partnership with Ojas Eye Hospital signifies a shared commitment to delivering the best eye care treatments in Maharashtra. As an investor and promoter of world-class healthcare delivery in India, I firmly believe that hospitals are only as good as the Doctors who lead them.”

“Our partnership model is designed to support excellent eye care practices by fostering growth, investment in cutting-edge technology, and incorporating robust management expertise and corporate governance. This collaboration with Dr Niteen Dedhia and his team aligns with Maxivision’s vision to expand its footprint across Maharashtra.”

Dr. Niteen Dedhia, Promoter and Chairman, Ojas Eye Hospitals said, “This collaboration enables us to leverage Maxivision’s professional management and investment capabilities to expand our practice across Mumbai and Maharashtra.”

“Together, we will continue to provide advanced, personalised, and comprehensive eye care to more patients, ensuring they benefit from the best technologies and services in eye care. We look forward to achieving our shared mission of delivering compassionate and high-quality vision care to all,” he added.

Maxivision is one of the top 3 eye hospitals chain with an anticipated annual revenues of over Rs 600 crore this year with a plan to scale up revenue to Rs 800 crore next year. It plans to go for IPO within the next two years.

The company has also raised Rs 1,300 crores from Quadria Capital last year to drive organic expansion and inorganic growth and cement its position as one of India’s leading eye care platforms.

Maharashtra has been identified as one of the high growth market for Maxivision, the company said.