Bahrain-based Investcorp has announced that it has invested in Kindstar lobalgene, an independent medical testing services group in China.
Terms of the transaction were not disclosed, the company said.
Founded in 2003 and headquartered in Wuhan, Kindstar offers patients and physicians broad access to advanced specialty testing services across hematology, gynecology and pediatrics, infectious diseases, oncology and neurology.
Kindstar currently serves more than 3,000 hospitals in over 600 cities in China with advanced and nationally accredited clinical testing, scientific research and development laboratories and more than 2,500 employees.
Hazem Ben-Gacem, co-CEO of Investcorp, said: “Our focus on healthcare opportunities in China allowed us to identify Kindstar which has built impressive capabilities for improving the quality of healthcare through severe diseases related testing.
“We believe that Kindstar has significant growth potential driven by accelerating demand for precision medicine, underserved market and the company’s broadening advanced solutions to address an even wider range of specialty healthcare needs.”
Kindstar uses esoteric testing which involves analysing unique molecules or substances to provide critical diagnostic information that cannot be obtained through routine testing.
Investcorp said China’s independent clinical laboratories market is expected to grow at high digit in the foreseeable future, with esoteric testing outpacing the overall market, driven by significant demand to address unmet medical needs.
Kindstar is further supported by its extensive global network, which includes some of the world’s leading healthcare organisations such as the Mayo Clinic, Illumina and Novartis.
Investcorp said its investment in Kindstar is the latest in Chinese healthcare companies that have remained resilient throughout the pandemic and are expected to experience accelerated growth.
In September, Investcorp announced that it had acquired minority equity stakes in Lu Daopei Medical Group, a hematology hospitals group in China, and WeDoctor, an online healthcare services company.
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