Sterling Accuris to raise Rs 250 crore from fund managed by Morgan Stanley

Diagnostic lab chain Sterling Accuris Wellness on Monday said it has inked a pact to raise Rs 250 crore from a fund managed by Morgan Stanley Pvt Equity Asia in order to expand operations. Sterling, which started operations in 2016, has over 1,000 employees and operates around 150 labs and collection centers in Gujarat, Delhi, Rajasthan and Madhya Pradesh. The company is aiming a revenue of around Rs 250 crore in the current fiscal year. As diseases become more complex, the need for their quick and accurate diagnosis through testing will become more critical," Sterling Accuris Chairman Girish Patel said in a statement. This will lead to increased customer preference towards organised pathology lab networks, he added. "Over the last five years, Sterling Accuris have built a strong business in the markets we operate in and the growth capital infusion from a seasoned investor like Morgan Stanley will help the team accelerate the execution of our expansion plan," Patel noted. During

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