Mayo Clinic invests in Ratan Tata -backed cancer care firm Karkinos Healthcare
- ByStartupStory | May 23, 2022
US-based Mayo Clinic will acquire a minority share in Karkinos Healthcare, an oncology-focused managed healthcare platform. Mayo Clinic will designate a member to Karkinos’ Board of Directors as part of the arrangement. According to a release, the two firms will share technological know-how.
The amount invested was not disclosed by the startup. Karkinos, on the other hand, stated that the funds will be used for the development of healthcare solutions. Ratan Tata, Venu Srinivasan, Kris Gopalakrishnan, Ronnie Screwvala, Vijay Shekar Sharma, and Bhavish Agarwal are among the notable investors that have previously invested in Karkinos.
The Tata Group is investing Rs 110 crore in Karkinos, with minority investments held by Rakuten Medical, a worldwide clinical-stage biotechnology business, and Reliance Digital Health, a Reliance Industries subsidiary. Endiya Partners, a venture capital firm, also holds an interest in the company. Karkinos Healthcare is a managed health care platform specialising in oncology for the early detection and diagnosis of common malignancies.
The company claims to operate with a dispersed cancer care network that includes different healthcare facilities and specialists. Its goal is to bring cancer treatment closer to the patient’s home. Karkinos collaborates with a variety of healthcare facilities and specialists in the oncology ecosystem, and it now provides services in Kothamangalam, Chottanikkara, Thodupuzha, and Munnar in Kerala’s Ernakulam and Idukki districts, with plans to expand across India. In collaboration with the Government of Manipur, the startup is also establishing a Cancer Centre on the grounds of the Jawaharlal Nehru Institute of Medical Sciences (JNIMS) in Imphal.
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