Quadria Capital backs Strand Life Sciences
A huge sum of $13 million has been raised by Strand Life Sciences in a round led by Quadria Capital, a healthcare-focused private equity investor, with participation from India-based HealthQuad Fund and Singapore-based Heritas Venture Fund, which is a limited partner of Quadria Capital. This investment will be utilised to fund the growth and expansion of Strand.
Strand Life Sciences, which was formed from the business merger of Strand and Triesta, the diagnostics unit of HCG, has expertise across bioinformatics and clinical research capabilities with a pan-India presence in specialised and routine diagnostics services.
Ramesh Hariharan, Chief Executive Officer, Strand Life Sciences said, “The partnership with Quadria and HCG will help launch Strand into its next phase of growth.”
Strand 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 and on-ground presence through 15 laboratories in a mix of metros and emerging cities.
Amit Varma, Managing Partner, Quadria Capital, “The demand for specialised 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.”
Founded in 2000 as a spin-off from the Indian Institute of Science, Strand Life Sciences, has over 220 engineers, scientists, and pathologists, and performs diagnostic tests for more than 1000 hospitals in the country like HCG, TMC Kolkata, Max Hospitals Delhi, Narayana Hrudayalaya and Apollo Hospitals.