General Diagnostics raises USD 10.5 million from InvAscent to expand its geographical reach

The funding will be used to further enhance GD’s technological capabilities and build in-house logistical solutions for fast movement of biological samples

General Diagnostics International (GD), a Mumbai-based diagnostics firm offering both routine and high-end diagnostics tests has announced that it has raised its maiden equity investment of $10.5 million from InvAscent, a healthcare focused private equity firm in India.

The funding will be used to further enhance GD’s technological capabilities and build in-house logistical solutions for fast movement of biological samples. The company will also use the funds to expand its network of laboratories across India.

Susheel Singh, MD, General Diagnostics said, “We are excited to partner with InvAscent as we embark on our next phase of growth. InvAscent’s deep understanding and wisdom in conventional and tech-based healthcare delivery solutions  will be invaluable to us as we continue to expand our reach and provide high-quality diagnostics services to patients across India.”

GD was founded in 2017 and has since developed software solutions, algorithms and processes which combine to give an additional layer of quality control on top of the QC methods recommended and audited by National Accreditation Board of Laboratories (NABL) and established a reputation for excellence in the medical fraternity, especially amongst hospitals