Tata backed Karkinos Healthcare receives funding from Mayo Clinic
Category: #health  By Pankaj Singh   Date: 2022-05-23
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Tata backed Karkinos Healthcare receives funding from Mayo Clinic
  • Karkinos plans on using these funds to develop advanced healthcare solutions in India.
  • Under the agreement, Mayo Clinic will be nominating a member on the Board of Karkinos
  • Tata Group has invested around Rs. 110 crore (USD 14.1 Million) in Karkinos

Karkinos Healthcare, a purpose-driven technology-led oncology platform, has recently revealed that Mayo Clinic, a US-based academic medical center, has invested a minority stake in the company.

According to reliable sources, Karkinos is planning to use the funds for the development of advanced healthcare solutions. While, as a part of the agreement, Mayo Clinic will be nominating a member on the Board of Karkinos.

The funding was secured from marquee investors like Ratan Tata, Kris Gopalakrishnan, Vijay Shekar Sharma, Ronnie Screwvala, Bhavish Agarwal, and Venu Srinivasan, among others.

To elaborate, the Tata Group invested around Rs. 110 crore (USD 14 Million) in Karkinos, while RelianceDigital Health, a subsidiary of Reliance Industries and Rakuten Medical, the global clinical-stage biotechnology company, will hold a minor stake.

Karkinos Healthcare Pvt. Ltd is an oncology platform that emphasizes delivering quality healthcare. It is aiming to revolutionize the model of Distributed Cancer Care Network in India to handle the rising clinical need of cancer patients in the country.

The company functions with several healthcare professionals and institutions in the oncology ecosystem, bringing clinical care closer to patients by means of an advanced technology platform.

The firm already provides its services in Chottanikkara, Kothamangalam, Munnar, and Thodupuzha locations across Idukki and Ernakulam districts in Kerala and is planning further to fasten its operations across India.

Reportedly, the firm is also building up a Cancer Centre in JNIMS (Jawaharlal Nehru Institute of Medical Sciences) premises which will be located at Imphal, in collaboration with the Government of Manipur.

Source Credit - https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/mayo-clinic-invests-in-ratan-tata-backed-cancer-care-platform-karkinos-healthcare/articleshow/91724036.cms

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