Strand Life Sciences announced an investment by Quadria Capital, Asia’s leading healthcare focused private equity investor. India-based HealthQuad Fund and Singapore-based Heritas Venture Fund also contributed to this fund. The total funding is US$ 13 million.
This investment will be utilized to fund the growth and expansion of Strand towards becoming Asia’s leading integrated diagnostics company.
Dr. Ramesh Hariharan, Chief Executive Officer, Strand Life Sciences, said “Given their deep operating knowledge and experience of building healthcare businesses in Asia, the partnership with Quadria and HCG will help launch Strand into its next phase of growth and into an era where data analytics and molecular measurements together change diagnosis and treatment paradigms.”
Strand now offers end-to-end capabilities in precision medicine – a complete range of clinical diagnostic offerings including oncology, women’s health, fertility, genetics, infectious diseases and preventive care, on-ground presence through 15 laboratories in a mix of metros and emerging cities, globally renowned bioinformatics capabilities used by global instrument providers and diagnostic laboratories, and access to India’s largest cancer bio-repository for cutting-edge clinical research.
Dr Amit Varma, Managing Partner and Co-Founder, Quadria Capital said that the demand for specialized diagnostics has been rising rapidly across the region. With diagnostics moving beyond just identification of infections to becoming an integral part of management and therapy, we see a huge potential in this area.