Dr A Velumani, founder and managing director of Thyrocare Technologies that offers thyroid-related tests at half the industry rates by running the machines round the clock, is planning to set up new centres under the brand name Nueclear that would offer cancer-related imaging services at half the industry rates. The first such centre is expected to start functioning by May 2011 in Navi Mumbai.
Thyrocare has signed a deal to offload 30 per cent equity in the company to CX Partners for Rs 188 crore. The first tranche (Rs 80 crore) of private equity money will fund the first nuclear imaging centre. In two years, the company plans to have five such centres in place, funded through internal funds and money from banks or investors, according to Dr Velumani. [Source: Hindu Business Line]