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Tata Capital Healthcare Fund leads $30M Tenet Diagnostics investment
Tata Capital Healthcare Fund and Blue Earth Capital invest $30M in Tenet Diagnostics. The fund plans to fuel expansion across India's diagnostics market and deepen its B2B network.
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Tata Capital Healthcare Fund (TCHF) and Swiss investor Blue Earth Capital AG invested $30 million in Tenet Diagnostics for an undisclosed equity stake. The deal is one of the first from TCHF’s Fund III, which held its first close earlier this year.
Tenet Diagnostics, founded in 2018, runs over 35 diagnostic centers across 14 Indian states with a pan-India B2B lab network offering more than 3,000 superspecialty tests. The company plans to deepen its presence in existing markets and pursue acquisitions, TCHF said in a statement.
TCHF is the healthcare-focused private equity arm of Tata Capital Ltd, established in 2010. It has raised and manages about $400 million across Funds I and II. At Fund III’s first close, TCHF has invested in 20 companies and completed eight exits.