Mid-market private equity fund Tata Capital Growth Fund has picked up a minority stake in Chennai-headquartered diagnostics services provider Aarthi Scans & Labs for an undisclosed sum, a release said today.
The 22-year-old Aarthi Scans operates in the affordable diagnostics space with presence across 10 states including top six metropolises. With over 45 full-fledged diagnostic centres and 100 collection centres in states such as Tamil Nadu, Karnataka, Maharashtra and others, Aarthi Scans offers a wide suite of radiological and pathological services.
Govindarajan, Chairman & MD at Aarthi Scans said the investment from Tata capital “further affirms our belief in our business model of providing high quality diagnostics services to the masses at an affordable price.”
On expansion plans, Aarthi Scans plans to double the network in the cities it currently operates, and open new centres in other Tier I cities.
Veda Corporate Advisors assisted Aarthi Scans through the transaction.
With over Rs 3000 crore of assets under management, the Tata fund targets growth capital investments into sectors like Urbanization, Discrete Manufacturing and Strategic Services.