GenWorks has created a strong distribution network across India and has tie-ups for best in class medical device manufacturers in the country
Medical equipment distributor GenWorks on Tuesday said it has raised Rs 15 crore in debt from BlackSoil.
The fund will be used for meeting the working capital requirements and expanding the company’s newly acquired In-Vitro Diagnostics segment of IRIS Healthcare, GenWorks said in a statement.
‘We are pleased to tie up with Blacksoil and have them as our partner, their funding is a strong boost to our expansion activities and will help us grow our product portfolio as we continue to onboard various segments to build our care cycle,’ GenWorks Co-Founder, MD and CEO S Ganesh Prasad said.
GenWorks is a distributor for over 25 medical equipment manufacturers across 500 districts, providing better quality healthcare to Tier 2 and 3 cities, the statement said.
‘We are pleased to be associated with the company and are glad we can play a role in helping the improvement of the healthcare system of India,’ venture debt firm BlackSoil Capital Director Ankur Bansal said.
GenWorks has created a strong distribution network across India and has tie-ups for best in class medical device manufacturers in the country, he added.
Source: Business World