Conifer Capital backs Nephro Plus with US$7M to expand dialysis care in the Philippines
NEPHRO Plus Consultancy Inc. (“Nephro Plus”), the Philippines’ leading dialysis provider, has secured investment from Conifer Capital to further develop its network of public-private partnership (PPP) clinics and address the country’s dialysis shortage. Rocket Equities, a Southeast Asia-focused M&A advisory firm, acted as Nephro Plus’ exclusive financial advisor for the transaction.
Conifer Capital’s partnership with Nephro Plus unlocks a billion-dollar renal care opportunity in the Philippines, where systemic undercapacity meets explosive demand. With a deficit of 8,000 dialysis stations and 100,000+ patients having urgent need for treatment in a nation where CKD afflicts 7 million (4th leading cause of death), Nephro Plus is positioned to dominate a market supercharged by PhilHealth’s reforms—evidenced by dialysis subsidies surging 4X from US$300M (2022) to US$1.3B (2025).
Nephro Plus, founded by Donna Gatus Mangulabnan—a U.S.-trained nurse with over a decade of experience across the U.S. and Philippines, operates a growing network of dialysis centers, delivering over 50,000 life-sustaining treatments annually. Beyond its clinical footprint, Nephro Plus has built a comprehensive dialysis ecosystem, offering consulting services, operational support, and the distribution of specialized equipment. This positions Nephro Plus as a full-service provider in the Philippines dialysis market, uniquely poised to address the country’s urgent needs.
Donna shares: “As a healthcare professional and a proud Filipino, my mission has always been to deliver world-class renal care in my home country. Every new clinic we open means thousands more patients receiving the care they need to live fuller, healthier lives. This is more than business; it’s a commitment to creating a healthier future for the Philippines.”
Jimmy Quach, Managing Partner of Conifer Capital, commented: “Nephro Plus isn’t just addressing a market gap—it’s solving a national crisis. This is a rare chance to scale a category leader in a sector where supply cannot keep pace with policy-driven demand. Our partnership positions Nephro Plus to lead the transformation of renal care in the Philippines, one of Asia’s most underserved yet fastest-growing dialysis markets.”
