Vasan Eye Care (VEC) Hospitals has earmarked Rs 300 crore to expand in India as well as overseas.

The expansion is likely to be funded mostly from internal accruals and partly by debt. Sequoia Capital has already invested $20 million (approx Rs 88.6 crore) into the chain.

Of the total investment, VEC plans to invest $50 million (approx Rs 221.5 crore) in India and over $20 million (approx Rs 88.6 crore) in the overseas market by September 2011.

Under the expansion plan, 40 hospitals are likely to be launched across North India including tier I and tier II cities.

At present, VEC has 60 hospitals in tier I and tier II cities in Tamil Nadu, Karnataka, Andhra Pradesh and Kerala. In Karnataka, VEC has centers in Hubli, Dharwad, and Belgaum, while two centers are functional in Koramangala and Rajaji Nagar in Bangalore. It plans to open two more centers in Bangalore by December 2011.

This apart, VEC's first centre is scheduled to open shortly in Dubai. It is planning to open eye care centres in Gulf Cooperation Council, UAE, Singapore, Malaysia, Thailand, Philippines, and Indonesia.