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July 04, 2012

Deal Alert: Rajasthan Venture invests Rs. 20 crores in International Oncology

From the Press Release:

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. The company with an objective to make quality cancer care more accessible to the people has identified several cities in India for setting up world class cancer care centers and opening soon its next centers in Jodhpur, Rajasthan and Jalandhar, Punjab.

“The Oncology sector is currently witnessing a huge gap in terms of incidence of cancer in the country and limited quality cancer care facilities to treat the same. 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. India has few public sector cancer centres, some central establishment and limited private sector participation. IOSPL through its specialized cancer care centres is set to address this burgeoning demand in India” said Mr. Rajendra Bhanawat, Chairman of RVCF. 

Mr. Pradeep K Jaisingh, CEO and MD of International Oncology Services Pvt. Ltd. said, “After setting up comprehensive cancer centres in NCR and Mumbai, we are in the process of taking world class cancer care to several other states of India and Rajasthan is a special focus area for us. This investment by RVCF will help IOSPL carry out its immediate expansion plans and we are delighted to have their support." 

“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. 

ABOUT IOSPL 

International Oncology is a global cancer care and research company focused on providing world class cancer treatment and care. The company is at the forefront of bringing the very best in cancer care to India through expertise, research and collaboration. International Oncology is committed to making world class cancer care accessible to the underserved areas through their network of cancer care centres. 

After establishing their flagship centres at Noida and Mumbai, the company is in the process of launching comprehensive cancer care centres in states like Rajasthan, Punjab, Maharashtra and others. 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. 

ABOUT RVCF 

Rajasthan Venture Capital Fund is mandated to operate on pan-India basis. It manages two SEBI registered domestic venture capital funds - RVCF Fund I & SME TECH FUND – RVCF Trust II and invests in IT, education, healthcare, agro products, auto components and other growth sectors. Rajasthan Venture Capital Fund is amongst the top 3 Regional venture capital funds in India.

For more details contact Mr. Girish Gupta, CEO – Rajasthan Venture
Mobile No: +91 98290 66878/ Landline: 0141-4071680