Private Equity Private Equity Fund Investments
Diagnostic lab chain Sterling Accuris raises Rs.250-Cr from Morgan Stanley
Source Business Standard (opens in a new tab)Bio Spectrum India (opens in a new tab)
Ahmedabad-headquartered pathology-focused diagnostic lab chain Sterling Accuris Wellness has raised INR 250 crores from a fund managed by Morgan Stanley Private Equity Asia. Veda Corporate Advisors advised the company and its promoters on the transaction. The proceeds from this fundraise will help the company penetrate deeper into existing markets and enter new geographies such as Maharashtra and NCR.
Sterling Accuris, which started operations in 2016, has over 1,000 employees and operates around 150 labs and collection centres in Gujarat, Delhi, Rajasthan, and Madhya Pradesh. The company is aiming to achieve a revenue of around INR 250 crores in FY22.