Quadria Capital Invests In India’s Leading Specialized Diagnostics Firm Strand Lifesciences

Investment to help transform Strand Life Sciences into Asia’s leading integrated specialised diagnostic and genomic research company

Singapore / New Delhi, [] February 2018– Quadria Capital, Asia’s leading healthcare focused private equity
investor, today announced its strategic investment into Strand Life Sciences, a global bioinformatics company
and India’s integrated and specialized diagnostic company. India-based Healthquad Fund and Singapore-
based Heritas Venture Fund also co-invested, along-side Quadria.
Strand Life Sciences in its new form is a business combination of Strand and Triesta, which brings together
strong, global bioinformatics and clinical research capabilities with a pan-India presence in specialised and
routine diagnostics services. The investment in Strand Life Sciences will allow Quadria to support the
expansion of the company into Asia’s leading, integrated, specialised diagnostic company, and a leading
provider of bioinformatics and research services worldwide.
Founded in 2000 as a spin-off from the Indian Institute of Science, Strand is one of the pioneers in the
bioinformatics space, with proprietary data analytical engines for research and clinical applications. Its
customers include leading instrument companies, like Agilent, pharmaceutical companies, diagnostics
laboratories, and research laboratories. It has over 200 engineers and scientists and performs cutting-edge
diagnostic tests for more than 300 hospitals in the country.
Triesta Sciences, founded in 2002 was until the merger, the diagnostic unit of Healthcare Global Enterprises
Ltd., India’s leading network of cancer care and reproductive medicine centres, offers comprehensive
oncology diagnostics, biomarker and translational research, laboratory services, and clinical research
The combination positions the new Strand Life Sciences uniquely with end-to- end capabilities in precision
medicine – a complete range of clinical diagnostic offerings, proprietary analytics, access to India’s largest
cancer bio-repository, and strong R&D capabilities to drive costs down and keep pace with the rapidly
evolving world of precision medicine.
Quadria Capital Investment Management Pte. Ltd.
11A Stanley Street,
Singapore 068730

Media Release

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The clinical diagnostic offerings of Strand will be focussed on oncology, reproductive medicine, rare disease,
infectious diseases and preventive care. On the bio-informatics side, the company will focus on growing its
business of driving efficiency for global instrument providers and diagnostic laboratories using its proprietary
tools and services. The company will also focus on using the bio-bank to drive collaborations with
pharmaceutical companies for drug development.
Quadria Capital Managing Partner and Co-Founder Dr. Amit Varma said: “The demand for specialized
diagnostics has been rising rapidly across the region. With diagnostics moving beyond just identification of
infections to becoming an integral part of management and therapy, we see a huge potential in this area.
Quadria is very excited to partner with Strand in this unique diagnostic platform that provides a potent
combination of world class bio-informatics genomics research and integrated specialised diagnostics.”
The specialised diagnostics market is one of the fastest growing segments within the Indian diagnostic
industry and is expected to be over US$ 700 million by 2020.
HCG Chairman and CEO, Dr B.S. Ajai Kumar said: “The future of medicine is personalised, precision and
preventive. We are excited to convert our long-standing association into a partnership that will offer the
most comprehensive set of diagnostic technologies and focus on redefining precision medicine. In an era of
data-driven healthcare, Strand’s exceptional team of computer and life scientists with access to a well
annotated clinical substrate, provides a unique opportunity to create exceptional value.”
Strand Life Sciences CEO Dr. Ramesh Hariharan said: “Given their deep operating knowledge and
experience of building healthcare businesses in Asia, the partnership with Quadria and HCG will help launch
Strand into its next phase of growth and into an era where data analytics and molecular measurements
together change diagnosis and treatment paradigms.”
This marks Quadria’s second consecutive investment in the diagnostic sector, after having announced its
partnership with Malaysia’s leading diagnostic company- Lablink, last month.

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About Quadria Capital
Quadria Capital is an independent healthcare focused private equity firm with assets under management
exceeding US$ 1.5 billion and investments in 18companies across the Asia-Pacific region.
We focus on partnering with promising regional healthcare companies and, with our active investment
strategy, help them grow into regional leaders, while creating and delivering outstanding returns to our
We complement our investment objective with a progressive investment philosophy of creating positive
impact on environment, society and governance. Our aim is to improve lives by bringing better healthcare
for all. This comes from our belief that positive investment returns and constructive social and financial
impact must go hand-in- hand.
The Fund is sponsored by Abrar Mir and Dr. Amit Varma and has operations based out of Singapore and New

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For more information, visit Quadria’s website at www.quadriacapital.com.