Tenet Diagnostics to invest Rs 100 crore for Karnataka expansion
Tenet Medcorp with the brand name Tenet Diagnostics , a leading national Integrated Diagnostics chain with its presence in eight states and 25 locations across India , is all set to invest Rs 100 crore in Karnataka expansion . The move will boost access to the latest technology and infrastructure in Diagnostics , Laboratory services and preventive healthcare in the state . With this investment , Tenet diagnostics will double its presence in Karnataka from the current 5 to 15 by 2025 . It ’ s five centres in Bengaluru are located in Jayanagar , Sadashivanagar , Indiranagar , Marathahalli and Whitefield .
D Suresh , Chairman of Tenet Diagnostics said , “ We wanted Tenet Diagnostics to be the main reference lab in South India , stopping all specialty tests from going to Mumbai and North India . Till date , we have catered to over 50 lakh + patients and processed 1.5 + crore tests with one of the largest test menu in India with close to 3000 + blood tests .”
MrMed raises US $ 500,000 from Tamil Nadu Emerging Sector Seed Fund
MrMed , a leading online superspecialty pharmacy , announced funding of US $ 500,000 from Tamil Nadu Emerging Sector Seed Fund ( TNESSF ), managed by Tamil Nadu Infrastructure Fund Management Corporation Limited . The seed fund , initiated by the Government of Tamil Nadu , seeks to empower startups and ventures in emerging sectors . This investment emphasizes TNESSF ’ s commitment to strengthening innovative solutions , especially in the emerging e- pharma sector .
Angels from BEEJ Network and Vish Entrepreneurs LLP also joined TNESSF , in the funding round . This seed funding aligns seamlessly with MrMed ’ s overarching funding strategy . The funds will be utilized for marketing initiatives , expanding the team , and exploring new ventures within the pharma supply chain and healthcare service provider sectors . MrMed has displayed impressive momentum in the market , with an Annual Recurring Revenue ( ARR ) of over Rs 26 crore as of July 31st , 2023 .
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