In a landmark deal for the Indian diagnostics sector, Chennai-based superspecialty chain Neuberg Diagnostics has raised ₹940 crore from Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers (Kotak Alt). The fundraise, the largest-ever primary investment in the sector, aims to bolster Neuberg’s inorganic expansion and pre-IPO preparations.
As reported by business-standard.com, the investment will support Neuberg’s focus on mergers and acquisitions, personalized medicine, and integrated diagnostics. Valued between ₹6,000 crore and ₹7,000 crore, Neuberg is reportedly in talks to divest around 15% equity as part of the deal. Financial advisory services for the transaction were provided by o3 Capital.
Neuberg’s founder and MD, GSK Velu, emphasized the significance of the investment:
“This funding marks a major milestone in our journey to becoming one of India’s largest diagnostic chains. It will enhance our capabilities and enable us to expand inorganically while ensuring access to high-quality diagnostics for all.”
Neuberg now joins the ranks of India’s leading diagnostic chains, which have raised significant capital, such as Dr Lal PathLabs (₹638 crore), Metropolis Healthcare (₹1,204 crore), and Thyrocare Technologies (₹479 crore) through their IPOs.
With this infusion, Neuberg is set to expand its footprint and solidify its position as a leader in India’s growing diagnostics market.