Deal Alert: Rajasthan Venture invests Rs. 20 crores in International Oncology
Summary
Jaipur-based Rajasthan Venture Capital Fund (RVCF) has invested Rs 20 crores in International Oncology Services Private Limited (IOSPL), a super specialty cancer care company for an undisclosed equity stake.International Oncology has established comprehensive cancer care centres (known as International Oncology Centre) equipped with cutting edge technology at Fortis Hospital, Noida and Dr. L H Hiranandani Hospital, Mumbai. While the incidence of cancer is increasing at an alarming rate in India; the country faces large limitations in terms of lack of technical specialization and trained personnel. IOSPL through its specialized cancer care centres is set to address this burgeoning demand in India said Mr. Rajendra Bhanawat, Chairman of RVCF.Mr. "IOSPL with its professional and experienced promoters & team is expected to emerge as one of the leading cancer care company in India said Mr. Girish Gupta, CEO of RVCF who will be joining the Board of Directors of the company.RVCF has invested in IOSPL through its Rs 200 crores SME Tech Fund which invests pan India in IT, education, healthcare, agro products, auto components and other growth sectors.International Oncology is a global cancer care and research company focused on providing world class cancer treatment and care. In the outreach programme, the company has tied up with various hospitals in Aligarh, Moradabad, Srinagar, Imphal, Gwalior and Panipat to make world class cancer care more accessible.Rajasthan Venture Capital Fund is mandated to operate on pan-India basis.