On Friday, the Motilal Oswal Private Equity (MOPE) will invest up to Rs 194.4 crore in Mankind Pharma’s diagnostics venture pathkind from its last fund.

The investment from MOPE’s IBEF IV will be used to strengthen the firm’s diagnostics capabilities and capacities and also boost services by leveraging digitization, AI, and ML tools, Pathkind Diagnostics said.

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MOPE is a unit of the financial services group Motilal Oswal Financial Services Ltd. Pathkind, which was founded in 2016, said it offers a portfolio of more than 4,000 tests across biochemistry, hematology, serology, histopathology, and molecular biology, among others. “We believe that the diagnostics industry in India is poised to grow to $30 billion over 8-10 years, driven primarily by increasing penetration and shift towards organized diagnostics chains,” said Vishal Tulsyan, MD) and CEO of MOPE. “Pathkind, with its focus on providing quality testing, widespread network, extensive doctor coverage, strong management team, and parentage and with our investment, is well poised to be a leading diagnostics franchise in India,” he said.