Kotak fund invests Rs 940 crore in Neuberg Diagnostics
New Indian ExpressIPO-bound diagnostics chain Neuberg Diagnostics has said it has received Rs 940 crore investment from a Kotak fund, which will help fund its inorganic growth plans. Neuberg, which claims to be the fourth largest diagnostic player founded by industry veteran GSK Velu, in a statement said the investment is by Kotak strategic situations fund, managed by Kotak Alternate Asset Managers. Neuberg has been growing through acquisitions of leading regional diagnostics players and has a network of over 10,000 touch points and over 250 labs across 250 cities and leads the Gujarat and Karnataka markets. Rahul Shah of Kotak Alternate Asset Managers stated in the release that the investment reflects their confidence in Neuberg's potential and expressed confidence that this investment will play a key role in increasing the scale of Neuberg and help it get ready for the upcoming IPO.
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