Neuberg Diagnostics, a super specialty diagnostics chain has secured an investment of ₹940 crore from Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers (Kotak Alt) to bolster its inorganic expansion strategy.
This is the largest-ever primary fundraise in the Indian diagnostics segment and the first private equity round for Neuberg Diagnostics.
The funds will be used for the preparation for an initial public offering (IPO) and to bolster its merger and acquisition (M&A) ability as it looks to become India’s largest diagnostic chain before a planned new share sale sometime next year.
GSK Velu, Founder and MD of Neuberg, said, “Securing this investment from Kotak Alt is a key milestone in our journey toward becoming one of India’s largest diagnostics chains. It will enable us to enhance our capabilities in personalized medicine and integrated diagnostics while expanding our footprint across the country. We are excited to continue meeting the evolving needs of our patients and clinicians as we move forward with our IPO preparations.”
Rahul Shah, Partner at Kotak Alt, said, “We are thrilled to support Neuberg in its mission to transform India’s diagnostics landscape. This investment underscores our confidence in their vision and growth potential. It will play a crucial role in scaling the business and positioning Neuberg for a successful IPO, while also driving better healthcare access and patient outcomes.”
Founded in 2017 by GSK Velu, Neuberg Diagnostics, headquartered in Chennai, is a diagnostic service provider, with a presence in India, UAE, South Africa and the USA.
The company has rapidly expanded its reach through strategic acquisitions and integrations of leading regional diagnostic players. Its network includes over 10,000 touch points and 250 laboratories across 250 cities, with market leadership in Gujarat and Karnataka.
