Tata Capital Healthcare Fund Invests in Mumbai Oncocare Centre’s Series A Round
- ByStartupStory | January 16, 2023
Tata Capital Healthcare Fund, the healthcare-focused arm of private equity firm Tata Capital Ltd, has invested $10 million (about 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 stock position as part of the transaction.
Ashish Joshi, Vashishth Maniar, Pritam Kalaskar, and Kshitij Joshi launched Mumbai Oncocare Centre, a division of Cellcure Cancer Centre Pvt Ltd., in 2018. It runs cancer daycare centres in 16 cities across Maharashtra and Madhya Pradesh.
Manish Jobanputra, chief operating officer, Mumbai Oncocare Centre said, “It is our privilege to join hands with Tata Capital, which is part of the Tata group that has earned and retained a reputation of being the most ethical industrial and business enterprise in India and globally.”
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 depends on clinical research, technology, and tumour boards to ensure that the care provided is always evidence-based.
“The philosophy and mission of Mumbai Oncocare Centre to provide high quality care at affordable price points aligned with our objective of financing such scalable and profitable business models,” said Vamesh Chovatia, Partner at Tata Capital Healthcare Fund.
Tata Capital Healthcare Fund is sponsored by Tata Capital Ltd., a Tata Sons subsidiary. Its portfolio includes companies such as Linux Laboratories, a local formulations company, and Atulaya Healthcare, a diagnostic company.
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