Motilal Oswal PE Fund to invest ₹194 cr in Pathkind
The investment from MOPE’s IBEF IV will be used to strengthen the firm’s diagnostics capabilities and capacities and also boost services by leveraging digitization, artificial intelligence, and machine learning tools
PremiumNEW DELHI : Motilal Oswal Private Equity (MOPE) will invest up to ₹194.4 crore ($25 million) in Mankind Pharma’s diagnostics venture Pathkind from its fourth fund, it said on Friday.
The investment from MOPE’s IBEF IV will be used to strengthen the firm’s diagnostics capabilities and capacities and also boost services by leveraging digitization, artificial intelligence, and machine learning tools, Pathkind Diagnostics said.
MOPE is a unit of financial services group Motilal Oswal Financial Services Ltd. Pathkind, which was founded in 2016, said it offers a portfolio of more than 4,000 tests across biochemistry, hematology, serology, histopathology, and molecular biology, among others. “We believe that the diagnostics industry in India is poised to grow to $30 billion over 8-10 years, driven primarily by increasing penetration and shift towards organized diagnostics chains," said Vishal Tulsyan, managing director (MD) and chief executive officer (CEO) of MOPE. “Pathkind, with its focus on providing quality testing, widespread network, extensive doctor coverage, strong management team and parentage and with our investment, is well poised to be a leading diagnostics franchise in India," he said.
Khaitan and Co, Wadia Ghandy and Co. and Ray Legal were the legal advisors to the transaction.
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