Neuberg Diagnostics Raises Funds From Kotak Strategic Situations Fund

Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers, has invested Rs 940 Crore ($109.5 million) in Neuberg Diagnostics to help with its expansion plans.

o3 Capital served as Neuberg Diagnostics' sole financial advisor for raising funds from Kotak Alt.

Led by industry expert Dr. GSK Velu, Neuberg is known for acquiring top regional diagnostics companies and growing them under its platform. This is the largest funding in India's diagnostics sector and Neuberg's first private equity round.

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Neuberg Diagnostics Founder-MD GSK Velu, said, "This funding will enable us to enhance our capabilities in the areas of personalised medicine and 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."

"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," he added.

Kotak Alternate Asset Managers Ltd., partner Rahul Shah said, "We are excited to partner with Neuberg Diagnostics as they work to transform the diagnostics landscape in India. The investment reflects our confidence in Neuberg's vision and potential. We are confident that this strategic investment will play a key role in increasing the scale of Neuberg Diagnostics and help the company get ready for their upcoming IPO."

Neuberg Diagnostics says it can perform over 5,000 types of tests and offers health checkup packages ranging from Rs 1,000 to Rs 8,500. In 2015, Velu sold his 36.5% stake in Metropolis Healthcare to Carlyle. He also founded Trivitron Healthcare, a medical equipment company, and invested in Kauvery Hospital, a hospital chain in Tamil Nadu.

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