EyeQ is a private company co-founded by Rajat Goel and Dr. Ajay Sharma in 2007. Other shareholders (venture capital investors) include SONG Investment Company, Helion Venture Partners and Nexus Venture Partners.

Headquartered in Gurgaon, India, EyeQ operates a chain of 28 specialty eye care centers spread across 19 cities in Uttar Pradesh, Haryana, Uttarakhand, Gujarat and Delhi. EyeQ offers several eye care services including surgeries / treatment for cataract, LASIK, cornea, refractive, glaucoma and retina.

The Company is looking to raise equity of INR 600 million. IFC proposes to invest up to INR 340 million, with the balance being provided by the existing investors.

5.36 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	5.36

* These investment figures are indicative

The Company is headquartered in Gurgaon, with a network of 28 centers across Northern and Western India. The additional capital will be used for further expansion of EyeQ’s network in India.

The proposed investment is closely aligned to the World Bank Group''s strategy for private sector health care in India. The World Bank Group seeks to engage the private sector to increase and improve access to affordable, quality health services, particularly in underserved geographies such as Low-Income States and Tier II-III cities, while reducing the burdens of out of pocket health care expenditures.

- Increase in patients reached (IDG 2): Expected to increase the number of patients reached by EyeQ''s healthcare services and contribute to IFC''s IDG 2 (patients reached) targets.
- Reaching underserved geographies: Reducing geographic barriers to treatment and bringing eye care facilities closer to underserved patient populations. EyeQ''s strategy is to focus on areas outside of India''s major metros - currently about 90% of centers are in Tier II-III cities and more than 25% of centers are in Low-Income States of India.
- Enhancing the country''s medical infrastructure: EyeQ plans to scale up its network, thereby enhancing the infrastructure for eye care in India, in addition to improving access to high quality service and improving health outcomes through standardized processes.
- Increasing affordable access: The proposed Project targets to provide affordable and high quality eye care services. This is expected to have a demonstration effect on other players in the eye care and broader healthcare sector.
- Employment generation: Expected to create additional skilled jobs (doctors, nurses, operations personnel etc.) including in Tier II-III cities. Of note, over 35% of EyeQ''s employees are women.

- Global knowledge sharing and industry relationships: IFC will share its significant industry knowledge and expertise gained from its previous healthcare investments across various emerging markets, including eye care chains located in China, Egypt and Mexico.
- Experience in healthcare in India: The Company can also benefit from IFC''s knowledge and relationships in the healthcare sector in India, including tertiary and specialty chains.
- Long term capital and Value Added Investor: IFC is a long term investor and has the ability to support the Company through its current and future growth plans.
- IFC will provide inputs on Environmental and Social best practices (including Life and Fire safety) and on Corporate Governance.

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of projects because it may create a limited number of specific environmental and social impacts that can be avoided or mitigated by adhering to generally recognized performance specifications, guidelines, or design criteria. Key environmental, health and safety, human resources and social issues that were reviewed included the following: environmental and social management system; emissions to the environment – air, water and subsurface; solid, and hazardous waste and materials management, including transportation; community and occupational health and safety; energy use and efficiency; community engagement; and land acquisition. The company will review existing facilities for comprehensive compliance with internationally accepted standards for life and fire safety, and ensure such in future projects where the Company is providing such services on its own or in any partnerships.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.