Inviga Healthcare Fund (IHF), the private equity platform founded by Dr. B. S. Ajaikumar of HCG, has acquired a 21% stake in Forus Health Pvt. Ltd., the Indian ophthalmic diagnostics pioneer whose devices have screened over 22 million patients across 75+ countries. Forus Health’s comprehensive digital platform integrated with their AI for Ocular & Oculomics has helped deliver last mile comprehensive eye diagnostics to over 5M+ patients across the world.
The secondary transaction signals Inviga’s intent to back world-class, AI-driven diagnostic solutions designed and built in India, and deployed globally at scale. This marks Inviga’s second major investment following its backing of Mynvax in 2024.
Dr. B. S. Ajaikumar, Founder, Inviga Healthcare Fund and Chairman, HCG, said: “Forus Health embodies the Inviga ethos: clinically strong, technologically deep, socially impactful, growth oriented, profitable. This investment is a testament to our confidence in India's ability to produce world-class healthcare innovations for domestic and international markets. We are delighted to partner with visionary founders like Chandrasekhar (KC) who combine deep insight with execution to make preventive, equitable healthcare a reality.”
K. Chandrasekhar, Co-founder & CEO, Forus Health, expressed his enthusiasm about Inviga joining their investment group, stating, “We are thrilled to welcome Inviga as we enter the next phase of our growth. Their expertise in healthcare, operational experience, and insights from a clinician’s perspective are incredibly valuable. Together, we aim to enhance our AI and platform capabilities, utilise our proven ability to innovate in medical devices, and expand our reach both in India and globally. Our mission remains focused on eradicating preventable blindness.”
Founded by Dr. B. S. Ajaikumar, a doctor-preneur and Chairman of HealthCare Global Enterprises (HCG), Inviga Healthcare Fund invests in high-impact healthcare ventures and champions Indian healthcare entrepreneurial talent. Its mission is to build sustainable, accessible, and outcome-driven healthcare platforms that blend clinical excellence with scalable innovation.
Forus Health is founded by K. Chandrasekhar, an industry veteran with exceptional experience in health-tech & semiconductor industries. The company is best known worldwide for its 3nethra series of ophthalmic screening devices that have improved access to affordable eye care across the world. In 2025, Forus Health was listed among TIME Magazine’s World’s Top 400 HealthTech Companies for its significant impact on making vision care more widely accessible through technology. The Forus platform now offers an integrated digital solution for managing comprehensive eye health. Its latest product, 3nethra specto, is the world’s first wearable digital refractor controlled by a smartphone, enabling remote and tele-optometry services.
Rakshith Rangarajan, Fund Manager, Inviga Healthcare Fund, commented: “Our collaboration with Forus is a strategic step intended to facilitate the expansion of a reputed med-tech franchise that is serving a significant market demand through a sustainable and economically sound business model. It reflects our commitment to advancing accessible solutions that address large, unsolved health challenges. The Make in India, Make for India and Make for the World ethos of Forus resonates deeply with our Fund. We’re confident this partnership will drive sustained growth and long-term value creation.”
The global burden of preventable blindness underscores the importance of scalable eye-care innovation. It is estimated that over 270 million Indians live with some form of visual impairment, a majority of which is preventable through early detection. With around 100 million diabetics, nearly one in five are at risk of diabetic retinopathy (DR), while 3.5 million preterm births annually place nearly 2 million infants at risk of retinopathy of prematurity (ROP)—both leading causes of avoidable blindness. Globally, over 2.2 billion people suffer from vision impairment or blindness, of which more than 1 billion cases are preventable or treatable. The challenge extends even to high-income countries, where aging populations and diabetes continue to drive incidence despite advanced health systems. Forus Health’s advancements have helped bridge these diagnostic gaps worldwide, improving access to affordable, portable, and early-stage eye screening solutions across both emerging and developed markets.
Inviga Healthcare Fund (IHF) is actively developing a distinctive platform of multi-specialty hospitals while simultaneously supporting high-potential emerging enterprises within the healthcare and life sciences sectors. This complementary two-pronged strategy, which includes majority-led hospital consolidations and minority investments in mid-market disruptive, IP-rich companies, harnesses the Fund's clinical leadership, market insights, and investment expertise to generate scalable innovation, create sustainable value, and produce high-impact results across the healthcare industry. Inviga remains committed to building a new generation of Indian healthcare enterprises that blend clinical depth with global ambition, driving innovation, accessibility, and long-term value creation.