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Vasan Eye Care chain founder A M Arun passes away
Chennai, November 16, 2020
A. M. Arun, the founder of Vasan Healthcare Group, which owned a chain of eye and dental hospitals, died of cardiac arrest on Monday, police said. He was 52.
Arun had taken over his father's pharmacy chain business and later set up a diagnostic lab and also founded two hospitals. He later promoted the chain of eye care centres under the brand Vasan and also entered the dental care segment.
The chain got funding from private equity investors like Sequoia.
However the group later got into problems with Enforcement Directorate alleging forex violations as Arun was considered close to Karti P. Chidambaram, son of former Finance Minister P. Chidambaram.
Following financial problems, the chain went to the National Company Law Tribunal (NCLT), Chennai, in 2017.
"Deeply saddened by the untimely passing away of my dear friend & entrepreneur Dr Arun @vasanhealth He was a pioneer who envisioned & built a great company which attracted big PE @Sequoia_India @sequoia @Temasek, unfortunately was hounded by agencies for collateral purposes. RIP," Karti Chidambaram said on Twitter.