Maxivision

The Challenge

The World Health Organization estimates that over 450 million people in India require vision correction and that an additional 12 million are blind.[1] India has the highest number of visually impaired people as a percentage of its population, with the greatest prevalence among those aged 50 and above.[2] Cataracts alone account for 62.5% of blindness cases, highlighting that the majority of eye conditions are reversible with proper professional care.[3]

However, access to eye care in India is limited, as the country’s tier-1 cities account for 76% of all private eye care centres. Patients in tier-2 and tier-3 cities struggle to access quality care, and often have to rely on rudimentary clinics that lack the technology and expertise required for high-end corrective procedures such as LASIK or SMILE.

Addressing the medical need and disparity in the quality of care is essential to better health outcomes, which are the foundation for sustainable economic growth and thriving communities.

Maxivision’s Solution

Maxivision stands among the top three players in the dynamic Indian eye care market and is one of India’s fastest-growing eye care chains, offering high quality and affordable eye care services. It has established a significant presence in South and West India, becoming the leading eye care player by serving a catchment population of 450 million through its 50 centres across five states in these core markets. Maxivision is one of India’s first operators of the LASIK machine and has a long history of clinical excellence.

Maxivision aims to democratise the right to sight by offering a full spectrum of services for all age groups, from neonatal and paediatric care to geriatric care. Its services include diagnosis, treatment, and surgical procedures such as cataract surgery, laser correction, vitreo-retinal surgery, and cornea transplants.

What sets Maxivision apart is its clear focus on providing high-quality and accessible care to India’s tier-2 and tier-3 cities.

Quadria’s Impact 

With Quadria’s strategic investment and support, Maxivision has achieved significant milestones in its mission to provide accessible and quality healthcare. Maxivision has expanded from nearly 40 centres at the time of investment in July 2023 to nearly 50 centres as of August 2024, with ~60% of these centres being located in tier-2 and tier-3 cities. With a demonstrated ability to grow organically as well as through acquisitions and joint ventures, and leveraging Quadria’s deal evaluation expertise, Maxivision aims to expand its presence to 100 clinics across 8 states in the coming years, bringing critical eye care services to India’s underserved populations.

In 2023, Maxivision served nearly 1 million patients, over 30% of whom were covered under government schemes, ensuring that quality medical care can be accessed by patients across income classes. In addition, as part of its Vision Centre Program aimed at combating avoidable blindness in rural communities, Maxivision screened over 4,000 patients and performed 428 surgeries, of which 397 were cataract related.

Under Quadria’s guidance, Maxivision also received NABH (National Accreditation Board for Hospitals & Healthcare Providers) accreditation for some of its key centres over the last year, reinforcing its commitment to providing accessible, affordable, and high-quality healthcare services.

Quadria remains committed to building on this momentum, helping to broaden and strengthen Maxivision’s positive social impact on an ever-expanding number of patients requiring eye care services across India.

[1] Quadria Annual Review 2023-24, 14. https://quadriacapital.com/wp-content/uploads/2024/09/Quadria-Annual-2023_FA_v31164-1.pdfhttps://quadriacapital.com/wp-content/uploads/2023/10/Quadria-Annual-2023_FA_v31164.pdf