Latest News | Neuberg Diagnostics Bags Rs 940 Cr Funding from Kotak Alt

Chennai, Jan 10 (PTI) Diagnostics chain Neuberg Diagnostics has secured Rs 940 crore from Kotak Alternate Asset Managers Ltd (Kotak Alt), part of the Kotak Mahindra Group, becoming the largest ever fund raise in the diagnostics sector, a company official said on Friday.

The funding would enable the city-headquartered company to enhance its capabilities in personalised medicine, integrated diagnostics besides expanding footprint across the country.

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"We are thrilled to announce that Neuberg Diagnostics has secured an investment from Kotak Alt marking a significant milestone in our journey toward becoming one of the largest diagnostics chains of Indian origin," Neuberg Diagnostics Founder-MD GSK Velu said in a company statement.

o3 Capital was the exclusive financial advisor to Neuberg Diagnostics for the fundraise from Kotak Alt.

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"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," Velu 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."

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