Primex Group, which recently roped in Agnivesh Agarwal, member of the founding family of the Vedanta Group, as an investor, is now scouting for private equity investor to expand its scans and labs business. The group already started the process and in talks with four potential investors, said a senior official from the Group.
It may be noted, Agnivesh Agarwal, son of Anil Agarwal founder of the Vedanta Group, earlier this week picked up a 60 per cent stake in Primex Healthcare. This will be his first investment in the growing healthcare industry in India. The investment was in his personal capacity.
Anand Mahadevan, founder & CEO, Primex Group said, “We are in talks with PE/VC funds to raise around $5 million to expand Scans & Labs business”. He declined to comment on the potential investors.
Currently the Group has two verticals, while Primex Healthcare operates own health care centers in Chennai, the second vertical operates Labs & Scans.
“We are planning to double the number of labs and scans to over 100 in the next 12-24 months and the focus will be southern markets,” said Mahadevan.
“Having Agarwal on the Board in Primex Healthcare, will help us to attract investors,” he said.
It may be noted, currently Primex operating five centres in Chennai, while the Group’s other company Primex Scans & Labs has 50-plus centres across the state, which can be utilised by Primex Healthcare. Primex Group model has been largely driven by an asset-light partner-driven model.
The group reported a revenue of around Rs 4.5 crore last year, and it offers high end scans through its franchise partner driven Primex Scans & Labs.