360 ONE Asset buys minority stake in House of Diagnostics
With this fresh capital, the diagnostic chain plans to expand its Tier-1 footprint, beginning with Mumbai and scale its offerings across pathology, radiology, and nuclear medicine
New Delhi: Private equity (PE) and venture capital (VC) fund, 360 ONE Asset has acquired a minority. stake in Delhi-based diagnostics chain, House of Diagnostics (HOD).
The fresh capital will be directed towards business expansion across key urban markets and scaling services across pathology, radiology, and nuclear medicine.
Invested capital and stakeholding figures remain undisclosed.
“Having bootstrapped the business since inception, we believe this is the right stage to bring on a long-term institutional partner to accelerate our next phase of growth,” Dr Shubham Sogani, CEO, House of Diagnostics.
“This partnership with 360 ONE Asset gives us long-term capital and will use this investment to expand into new Tier 1 cities, beginning with Mumbai and deepen our B2C engagements,” he added.
Besides Mumbai, the diagnostics firm also plans to debut in other large diagnostic markets including “Hyderabad and Bengaluru.”
Incorporated in 2007, HOD is a North-India centric integrated diagnostic chain which presently operates 12 diagnostic centres, and over 200 collection centres alongside home collection services.
