Chennai based Primex Healthcare has raised venture funding by diluting a 45% stake to Kalpathi Investments. Primex plans to set up over 50 premium quality diagnostic facilities at affordable prices across Tamil Nadu over the next 12 months. Primex will start with scans and labs facilities in 6 locations in Chennai, before expanding into other cities and towns in Tamil Nadu.
The Indian diagnostic services industry is projected to grow at a CAGR of over 20% in the next three years, said Primex in a release.
Kalpathi Investments is an investment arm of serial investor Kalpathi Suresh which recently exited MFI Equitas netting over 12x returns. Kalpathi sold a 10% stake to Sequoia in a secondary transaction valued at Rs 44 crore.
Primex will target all income groups starting from the lower-middle to the upper income group and corporates, Primex will offer High-end 1.5T MRI, Multi-slice CT, High frequency Digital X- Ray, 3D Ultrasound systems, Computerized ECG, Treadmill, PFT and EEG. At Primex Scans & Labs, patients can avail over 2000 different kinds of tests using fully automated analyzers.
Primex’s Lab and Radiology management systems have been developed in-house with cutting edge cloud computing technology to help doctors, technicians, partners and customers access information anytime anywhere.
“In the context of a growing population, an increasingly demanding lifestyle and improved per capita, there is a strong need for a bouquet of quality healthcare services at affordable prices that reaches deep into India; diagnostic services is an important component of such an offering and Primex is a strategic investment for us that caters to this sector,” said Kalpathi S. Suresh, Chairman, Kalpathi Investments.
Primex’s new Scan and Lab facilities across Tamil Nadu will have features including feeding rooms for nursing mothers, library facilities, pickup-and-drop services, home visits for sample collection, browsing and mobile charging station, among others.
Primex plans to offer annual membership cards starting from Rs 199 which will fetch discount on various services. The team is led former Microsoft executive Anand Mahadevan.