Tata Capital Healthcare Fund, the healthcare-focused arm of private equity firm Tata Capital, has invested $10 million (roughly Rs 82 crore) in Mumbai Oncocare Centre, a chain of Cancer Daycare Centres, in a Series A funding round.
However, neither company disclosed the specifics of the acquired equity stake as part of the transaction.
Ashish Joshi, Vashishth Maniar, Pritam Kalaskar, and Kshitij Joshi founded Mumbai Oncocare Centre, a division of Cellcure Cancer Centre, in 2018. It runs cancer daycare centres in 16 cities across Maharashtra and Madhya Pradesh.
Every year, lakhs of people are diagnosed with cancer in Mumbai, and the Mumbai Oncocare Centre provides individualised and high-quality care to them. According to the company, it relies on clinical research, technology, and tumour boards to ensure that the care provided is always evidence-based.
Tata Capital Healthcare Fund is sponsored by Tata Capital, a Tata Sons subsidiary. Its portfolio includes companies such as Linux Laboratories, a domestic formulations company, and Atulaya Healthcare, a diagnostic company.
It is a growth-oriented private equity fund that focuses on the healthcare and life sciences sectors in India. So far, it has raised $200 million in two funds, launched in 2012 and 2022, and invested in 12 companies. It has made five exits out of these. Companies in the healthcare supply chain include Amanta Healthcare, Sparsh Nephrocare, Shriji Polymers, and Sai Life Sciences.
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