MedGenome Labs, which is a genetics diagnostic company has received a capital infusion of USD 40 million from HDFC, HDFC Life and HDFC Asset Management Company, completing its third strategic round (Series C) funding.

The funds will be used for expanding the clinical genomic testing market by penetrating small towns. The company is also planning to establish more genetic centers in many hospitals, which will support clinicians and help patients take informed decisions.

Further, Deepak Parekh, chairman HDFC Group stated, “We believe understanding genetic information can have a big impact on the domestic healthcare industry through early detection of disease risk and development of new medicines.”

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