Strand Life Sciences closes financing led by Quadria Capital
Strand Life Sciences announced an investment by Quadria Capital, Asia’s leading healthcare focused private equity investor. India-based HealthQuad Fund and Singapore-based Heritas Venture Fund also contributed to this fund.
Strand Life Sciences, formed from the business combination of Strand and Triesta, the diagnostics unit of HCG, is India’s leading specialized diagnostics company. Its expertise spans strong global bioinformatics and clinical research capabilities with a pan-India presence in specialised and routine diagnostics services. This investment will be utilized to fund the growth and expansion of Strand towards becoming Asia’s leading integrated diagnostics company. Chief Executive Officer Strand Life Sciences, Dr. Ramesh Hariharan, said “Given their deep operating knowledge and experience of building healthcare businesses in Asia, the partnership with Quadria and HCG will help launch Strand into its next phase of growth and into an era where data analytics and molecular measurements together change diagnosis and treatment paradigms.”
Strand now offers end-to-end capabilities in precision medicine – a complete range of clinical diagnostic offerings including oncology, women’s health, fertility, genetics, infectious diseases and preventive care, on-ground presence through 15 laboratories in a mix of metros and emerging cities, globally renowned bioinformatics capabilities used by global instrument providers and diagnostic laboratories, and access to India’s largest cancer biorepository for cutting-edge clinical research. Quadria Capital Managing Partner and Co-Founder Dr. Amit Varma, said: “The demand for specialized diagnostics has been rising rapidly across the region.
With diagnostics moving beyond just identification of infections to becoming an integral part of management and therapy, we see a huge potential in this area. Quadria is very excited to partner with Strand in this unique diagnostic platform that provides a potent combination of world class bioinformatics, genomics research, and integrated specialised diagnostics.”
Congratulating Strand Life Sciences on the agreement, industry veteran Kiran Mazumdar-Shaw, Biocon, Chairman, said: “Strand’s partnership with Triesta is an inflection point which I am confident will drive its future into the fast growing segment of genomic led onco-diagnostics. This merger has attracted a significant investment from Quadria Capital which endorses the credibility of Strand’s evolving business strategy.”
About Strand Life Sciences Pvt. Ltd.
Strand Life Sciences is a global bioinformatics and genomic profiling company established in 2000. Strand is a leader in precision medicine diagnostics, aimed at empowering cancer care and enabling diagnosis of inherited diseases. Strand’s customers include leading global life science platform technology companies, research labs, as well as oncologists, paediatric specialists, geneticists and hospitals.
About Quadria Capital
Quadria Capital is an independent healthcare focused private equity firm with assets under management exceeding US$ 1.5 billion and investments in 18 companies across the Asia-Pacific region. Quadria focuses on partnering with promising regional healthcare companies and, with its active investment strategy, help them grow into regional leaders, while creating and delivering outstanding returns to its investors.