Motilal Oswal PE invests Rs.194-Cr in Pathkind Diagnostics

India Business Excellence Fund – IV, a fund managed by Motilal Oswal Private Equity (MOPE), is to make a primary investment of upto INR 194.4 crore in Pathkind Diagnostics - a pathology chain with operations across 23 states in India. Pathkind will use the proceeds for expansion in South India. Khaitan & Co, Wadia Ghandy & Co, and Ray Legal were the legal advisors to the transaction. Gurugram-based has a network of over 75 labs of which 13 are NABL accredited, 2,000 exclusive collection centers and over 5,000 business-to-business clients, across 23 states. The lab chain is promoted by diagnostic industry veteran Sanjeev Vashishta and the promoters of Mankind Pharma. Pathkind operates in the pathology and wellness segment and offers a portfolio of over 4,000 tests.