Redcliffe Labs has invested in Bengaluru-based leading integrated diagnostic chain, Celara Diagnostics in its first strategic investment following the recent Series C fund raise of $ 42mn from IFU (Denmark’s Investment Fund for Developing Countries), LeapFrog Investments, HealthQuad and Spark Growth Ventures.
Wodehouse Capital Advisors was the exclusive financial advisor to Celara Diagnostics and has added another transaction in the “Diagnostic & Pathology” vertical of its Healthcare practice.
Redcliffe Labs owns and operates more than 80 labs, processing tests from over 2,000 collection centres and home collection services. These are supported by over 1,000 phlebotomists across 220 cities in India. The company shared that it intends to use the recently raised funds to open more labs and collection centres, along with an expansion of its home collection network. The company had, in the past, made acquisitions in north-western India and continues to pursue a Pan-India expansion through strategic partnerships and such strategic investments.
Celara Diagnostics, founded by Dr Radhesh S and Dr Rekha Radhesh, is a Bengaluru-based 20,000 sq.ft.+ medical diagnostic chain providing services in the areas of Hi-end Radiology and Pathology, with consultative super speciality services covering Neurology, Cardiology, Pulmonology, etc. The medical expertise and network of Celara Diagnostics aims to provide Redcliffe synergies to enter the Southern market, especially Bengaluru.