Vishnupriya
New Delhi: Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers Limited, has made an investment of Rs 940 Crore in Neuberg Diagnostics Private Limited to support Neuberg’s inorganic expansion strategy, stated a press release.
Neuberg is the 4th largest diagnostic player in India, founded by industry veteran GSK Velu.
ET first reported on December 4 about the potential transaction.
Kotak Fund is in advanced discussions to acquire an about 15 per cent stake in Neuberg Diagnostics, in a pre-ipo round, ET reported.
Rahul Shah, Partner at Kotak Alt said, “We are confident that this strategic investment will play a key role in increasing the scale of Neuberg and help the Company get ready for their upcoming IPO.”
Neuberg has an extensive network of 10,000 touch points and 250 labs in 250 cities with market leadership in Gujarat and Karnataka. Neuberg is the second largest genomics player in India with leading position in newborn screening & reproductive genomics testing, it added.
Dr GSK Velu, Founder and MD of Neuberg, said, “This funding will enable us to enhance our capabilities in the areas of personalized medicine, integrated diagnostics and inorganically expand our footprint across the country. As we prepare for an IPO, we remain committed to making high-quality diagnostics accessible to all, ensuring that our services continue to meet the evolving needs of clinicians and patients.”
