Eye-Q

About Eye-Q

Eye-Q is a chain of super-speciality eye hospitals providing affordable and high-quality eye care, primarily focused on underserved populations in Tier-2 to Tier-4 towns in India. The company was founded in 2007 by Dr. Ajay Sharma, a renowned ophthalmologist, and Rajat Goel, a seasoned corporate professional. Dr. Sharma, with over 26 years of experience and having performed over 1.5 lakh surgeries, was a pioneer in introducing advanced cataract surgery techniques like Phacoemulsification in India. Rajat Goel, an IIM Ahmedabad alumnus with a background at companies like Godrej and Bausch & Lomb, brought his corporate and business development expertise to address the gap in quality eye care outside of major metropolitan areas.

The company operates on a fee-for-service business model, providing a comprehensive range of ophthalmology services. These include treatments for cataracts, glaucoma, and retina issues, as well as procedures like LASIK, squint surgery, and oculoplasty. Eye-Q targets patients in smaller cities across various Indian states, including Haryana, Uttar Pradesh, Uttarakhand, and Gujarat, and has also expanded its operations to Nigeria. The business model is designed for lean operations with a focus on quality and safety, with many of its facilities being NABH-accredited. This strategy allows them to offer advanced treatments at prices comparable to local providers, making quality care accessible to a broader population.

Since its inception, Eye-Q has treated over 1 crore (10 million) patients and performed more than 6 lakh (600,000) surgeries. The company has successfully raised significant capital to fuel its expansion. It has completed multiple funding rounds, raising a total of $34.4 million from investors such as Helion Venture Partners, Nexus Venture Partners, and the International Finance Corporation (IFC), the investment arm of the World Bank. In October 2022, it secured $9.9 million in debt financing from the U.S. International Development Finance Corporation (DFC) to further develop new centers and expand its reach in underserved areas. The company's vision is to become India's foremost eye hospital chain in both quality of care and the number of patients served, with a mission to prevent avoidable blindness.