Redcliffe Labs on Wednesday announced that it has invested in Bengaluru based leading integrated diagnostic chain, Celara Diagnostics in its first strategic investment following the recent Series C fund raise of US$ 42mn from IFU (Denmark’s Investment Fund for Developing Countries), LeapFrog Investments, HealthQuad and Spark Growth Ventures.
According to the company’s statement, Wodehouse Capital Advisors was the exclusive financial advisor to Celara Diagnostics and adds yet another transaction in the “Diagnostic & Pathology” vertical of its Healthcare practice.
“Redcliffe Labs owns and operates more than 80 labs, processing tests from over 2,000 collection centers and home collection services. These are supported by over 1,000 phlebotomists across 220 cities in India. The company shared that it intends to use the recently raised funds to open more labs and collection centers, along with an expansion of its home collection network,” the company said in a statement.
The company had, in the past, made acquisitions in north-western India and continues to pursue a Pan-India expansion through strategic partnerships and such strategic investments, it added.
Celara Diagnostics, founded by Dr. Radhesh S. and Dr. Rekha Radhesh, is a Bengaluru based state-of-the-art 20,000 sq.ft.+ medical diagnostic chain providing services in the areas of Hi-end Radiology and Pathology, with consultative super specialty services covering Neurology, Cardiology, Pulmonology, etc. The medical expertise and network of Celara Diagnostics provides Redcliffe with significant synergies to enter the Southern market, especially Bengaluru, it stated.
