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MOPE's India Business Excellence Fund invests Rs 194.4 crore in Pathkind Diagnostics
IMT News Desk
MOPE’s India Business Excellence Fund invests Rs 194.4 crore in Pathkind Diagnostics
IMT News Desk
The investment will further augment access to quality diagnostic testing infrastructure across India
India Business Excellence Fund – IV, a fund managed and advised by MO Alternate Investment Advisors (MOPE), has agreed to make a primary investment of upto Rs 194.4 crore ($25 million) in Pathkind Diagnostics, a pathology-focussed diagnostics services chain with operations across 23 states in India.
Vishal Tulsyan, MD and CEO, MOPE said, “We believe that the diagnostics industry in India is poised to grow to $30 billion over the next 8-10 years, driven primarily by increasing penetration and shift towards organised diagnostics chains. Pathkind, with its focus on providing quality testing, widespread network, extensive doctor coverage, strong management team and parentage and with our investment, is well poised to be a leading diagnostics franchise in India.
This is our second investment in the diagnostics industry, the first one being in a leading medical equipment company, which is decentralising access to quality diagnostics. With our investment in Pathkind, we are further augmenting access to quality diagnostic testing infrastructure across India.”
Sanjeev Vashishta, Promoter, MD and CEO, Pathkind Diagnostics said, “We are delighted to have MOPE as our partners. Both the organisation share a common vision and value system to make SUPERIOR QUALITY diagnostics services ACCESSIBLE to the masses at an AFFORDABLE price. Setting up Labs run by qualified MD Pathologist doctors, skilled technicians and scientists in every nook and corner of the country using state of the art technology and automated platforms, such that the patients don’t have to travel long distances for their diagnostics requirements, is our top priority. Early diagnosis can save lives and moneys to the exchequer and for that reason we are committed to providing reports to our worthy doctors and patients within the quickest possible time. The funding will be utilised judiciously to further build on the diagnostics capabilities and capacities, educating the masses about the virtues of early diagnosis and to augment our services using digitisation, AI, ML tools apart from other things.”
Eklavya Juneja, Director & Promoter, Pathkind Diagnostics said, “This primary investment coming in Pathkind will be utilised to further develop our IT infrastructure, digital marketing and expansion into southern India making us a Pan-India player within six months. At Pathkind, our belief is that ‘people create organisations’ and with focus on that we will be extensively utilising these funds on people development, upgrading our processes and introducing unique tests to the market.”
Khaitan & Co, Wadia Ghandy & Co, and Ray Legal were the legal advisors to the transaction.
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