Mumbai: Piramal Alternatives, the fund management division of Piramal Group, announced an investment of Rs 215 crore in South India focused wellness chain, Kolors Healthcare.
The alternative investment platform will funded the deal through its India Credit Opportunities Fund II and Kolors will delpoy the capital to expand its clinic network and diversify portfolio.
Additionally the wellness chain also plans to enhance its existing infrastructure under the Kolors 2.0 initiative.
The company did not disclose the stake acquired against the capital infusion.
Amid rising awareness and increasing disposable incomes, the demand for preventive care solutions are gaining strong traction across geographies and Kolors intends to expand its offerings across high-growth segments.
“The combined strengths of Piramal Alternatives and Kolors will help us address wellness needs at scale. Through Kolors 2.0, we aim to build a stronger wellness platform that solves real lifestyle and preventive healthcare needs across India,” said Venkata Shivaji Kuna, Executive Director, Kolors Healthcare.
