Sterling Accuris secures Rs 250 Cr from Morgan Stanley PE Asia

Sterling Accuris Wellness, a pathology-focused diagnostic lab chain in New Delhi, has signed an agreement to raise Rs 250 crore of equity funds from a fund managed by Morgan Stanley Private Equity (PE) Asia. Veda Corporate Advisors, a leading mid-market investment bank, advised the company and its promoters on the transaction. The company is aiming to achieve a revenue of around Rs 250 crore in FY22. During the last three years, the startup has significantly expanded its lab network, invested in digital technologies and built a strong backend infrastructure to offer a wide variety of routine and specialised tests within quick turnaround times. The proceeds from this fundraiser will help the company penetrate deeper into existing markets and enter new geographies.