NephroPlus, India’s largest dialysis network, is expanding aggressively in international markets while continuing to scale in India, according to Founder and Chairman Vikram Vuppala. The company’s initial public offering (IPO) opened today, following funds raised from anchor investors.

International operations currently contribute around 40% of NephroPlus’ revenue. Vuppala said the company’s platform has been built in India at “the lowest price point in the world” at about $22 per dialysis treatment. In contrast, he highlighted that Saudi Arabia is a developed market where the “price point for dialysis is $240 per treatment.” By deploying its lean operating model overseas, “the kind of EBITDA margins, the kind of returns that we see are better compared to what we get in India.”

Despite t

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