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Diagnostic chain Suraksha set to get $40 mn funding from OrbiMed

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Kolkata-based Suraksha Diagnostics, which operates the largest chain specialising in pathology and radiology in eastern India, is all set to receive about $40-million investment from healthcare investment firm OrbiMed.

Yes, we are in talks with OrbiMed and the deal-making is in the final stage, a media report quoted Suraksha Chairman Somnath Chatterjee as saying. This will be the first investment in eastern India by the firm with approximately $14 billion in assets under its management. Investment bank o3 capital is advising on the deal.

The fund will be used by Suraksha to expand its laboratory network and buy new equipment and technologies.

Suraksha operates more than 30 diagnostic centres across the country.

OrbiMeds other Indian investments include Laxmi Dental, Strides Shasun, Surya Pediatric Care and KIMS.

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