Tata Capital Healthcare Fund Leads USD 30 Mn Investment
Tata Capital Healthcare Fund III, Blue Earth Capital Invest USD 30 Mn in Tenet Diagnostics for Expansion.
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Tata Capital Healthcare Fund III and Switzerland-based impact investor Blue Earth Capital have invested approximately USD 30 million in Tenet Medcorp, which operates under the Tenet Diagnostics brand, for an undisclosed equity stake. Tata Capital Healthcare Fund III is leading the investment.
Founded in 2018 by Sricharan Devineni, Tenet Diagnostics operates more than 35 diagnostic centres across 14 states. It also runs a pan-India B2B laboratory network offering more than 3,000 tests.
The funding will support the company’s expansion in existing markets, growth of its B2B network and strategic acquisitions. The investment is among the first made by Tata Capital Healthcare Fund III since its first close earlier this year.
Visalakshi Chandramouli, Managing Partner, Tata Capital Healthcare Fund, said, “Diagnostics was increasingly becoming a consumer-driven category, with patients placing greater emphasis on speed, transparency and accuracy.”
Veda Corporate Advisors acted as the exclusive financial advisor to Tenet Diagnostics and its shareholders on the transaction.
Tata Capital Healthcare Fund III and Switzerland-based impact investor Blue Earth Capital have invested approximately USD 30 million in Tenet Medcorp, which operates under the Tenet Diagnostics brand, for an undisclosed equity stake. Tata Capital Healthcare Fund III is leading the investment.
Founded in 2018 by Sricharan Devineni, Tenet Diagnostics operates more than 35 diagnostic centres across 14 states. It also runs a pan-India B2B laboratory network offering more than 3,000 tests.
The funding will support the company’s expansion in existing markets, growth of its B2B network and strategic acquisitions. The investment is among the first made by Tata Capital Healthcare Fund III since its first close earlier this year.
Visalakshi Chandramouli, Managing Partner, Tata Capital Healthcare Fund, said, “Diagnostics was increasingly becoming a consumer-driven category, with patients placing greater emphasis on speed, transparency and accuracy.”
Veda Corporate Advisors acted as the exclusive financial advisor to Tenet Diagnostics and its shareholders on the transaction.
