Chennai-based Primex Healthcare has raised Rs.5.1 Cr from 
Kalpathi Investments by diluting 45% stake. The deal values Primex at Rs.11.33 Cr.
Primex Healthcare And Research Pvt Ltd has plans to set up over 50 premium quality diagnostic facilities at affordable prices across Tamil Nadu over the next 12 months.
Primex will start setting up scans and lab facilities in six locations in Chennai, before expanding into other cities and towns in Tamil Nadu.
Led by former Microsoft executive Anand Mahadevan, Primex will target all income groups starting from the lower-middle to the upper income group and corporates, and will offer high-end 1.5T MRI, Multi-slice CT, High frequency Digital X- Ray, 3D ultrasound systems, computerized ECG, treadmill, PFT and EEG.
Transaction Reference: ET
At Primex Scans & Labs, patients can avail over 2000 different kinds of tests using fully automated analyzers.
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.
Kalpathi Investments is an investment arm of Kalpathi Suresh, the founder of Software Solution Integrated Limited (SSI). In an earlier big ticket deal, Kalpathi Suresh sold 51% stake in SSI to PVP Global for Rs.613.14 Cr ($140 mn).
This year in Jan, he exited Equitas Micro Finance India gaining over 12x returns. He sold 10% stake in Equitas for Rs.44 Cr to Sequoia Capital in a secondary transaction. He had invested Rs.3.5 Cr in Equitas in 2007-08.
The diagnostics space in the country has been witnessing a lot of fund-raising and deal action in the recent past. US-based PE firm TA Associates is in talks to buy 15% stake in Dr Lal Pathlabs from Sequoia Capital for around Rs.170 Cr, Super Religare Laboratories (SRL) in July bought out Piramal Healthcare’s diagnostic chain for around Rs.600 Cr, while Warburg Pincus invested $85 mn in Metropolis Healthcare in June.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 23/08/10 |
Primex Healthcare - Kalpathi Investments |
Venture Capital |
Kalpathi Investments Private Limited. |
1.09 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 07/02/12 |
Private Equity |
IDFC Private Equity |
Sahyadri Hospitals Limited |
61.17 |
Planned |
| 06/02/12 |
M&A |
Nova Medical Centers Private Limited |
Helios Hospitals Private Limited |
- |
Completed |
| 01/02/12 |
M&A |
Fortis Healthcare Limited |
RadLink-Asia Pte Ltd |
63.51 |
Completed |
| 01/02/12 |
Private Equity |
Looking For |
Perfint Healthcare Private Limited |
20.34 |
Planned |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| Kalpathi Investments Private Limited. |
|
Education |
|
|
Company |
| Name | Promoters | Office | Competitor | Website |
| Primex Healthcare And Research Private Limited |
Anand Mahadevan |
AH-241, AH Block, 1st Street,
Anna Nagar,
Chennai - 600040
Tamil Nadu |
|
|
