Redcliffe Labs to raise $200 million

Diagnostic chain Redcliffe Labs stated it has initiated the method of elevating $200 million from non-public fairness buyers. The firm expects to full the fundraise by the top of this yr. “We are in the beginning of the most important spherical of diagnostic financing of round $200 million,” Dheeraj Jain, founding father of Redcliffe Labs, instructed ET. Jain stated the proceeds can be largely used for inorganic growth into radiology testing.

“We are very eager to purchase regional (radiology testing) chains who have already got a footprint, in order that we are able to deliver our high quality, aggression and newest know-how, to scale up the enterprise,” Jain stated, including he had begun scouting for potential targets of acquisitions.

“There are a minimum of 30-40 regional (radiology lab) property in India,” Jain stated and he expects his firm could be nearer to turning into a unicorn with the infusion.
In May, Redcliffe introduced it had raised $61 million as a part of sequence B led by LeapFrog Investments (LeapFrog), with participation from Healthquad, Schroders, LC Nueva, Growth Spark Ventures and present buyers Chiratae Ventures and Alkemi Venture Partners.

Jain stated the funding can be used for pan-India growth, offering low-cost however top quality direct-to-consumer (D2C) blood checks into tier 2, 3 and 4 cities and cities, together with scaling up Redcliffe’s platform and growing its product choices to radiology, illness information profiling and way of life administration. India News Today