CHENNAI: Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers Limited (Kotak Alt), on Friday announced an investment of Rs 940 crore in Neuberg Diagnostics Private Limited to support Neuberg’s inorganic expansion strategy.

Neuberg is the 4th largest diagnostic player in India, with an extensive network of 10,000+ touch points and 250+ labs in 250 cities and market leadership in Gujarat and Karnataka. It is the second largest genomics player in India with leading position in newborn screening and reproductive genomics testing.

Rahul Shah, Partners, Kotak Alt, said, “We are confident this strategic investment will play a key role in increasing the scale of Neuberg and help the Company get ready for their upcoming IPO.”

GSK Velu, founder-MD, Neuberg, said, “This funding will enable us to enhance our capabilities in the areas of personalised medicine, integrated diagnostics and inorganically expand our footprint across the country.”