Corporate Feature     

Published: Feb 15, 2023
Updated: Feb 15, 2023

Mumbai Oncocare Centre

New wings for cancer care

Mumbai Oncocare Centre (MOC), a chain of cancer daycare centres and a unit of Cellcure Cancer Centre Pvt Ltd, announced recently that it has raised up to $10 million from Tata Capital Healthcare Fund for an undisclosed equity stake. MOC plans to utilize the newly infused capital to expand across India in the next 18 months.

Founded in 2018 by four medical oncologists (Dr Ashish Joshi, Dr Vashishth Maniar, Dr Pritam Kalaskar and Dr Kshitij Joshi), and immensely supported, contributed to and co-created by 15 other medical oncologists, MOC is a pioneering chain of cancer daycares operational at 16 locations across 10 cities of Maharashtra and Madhya Pradesh.on the stock exchange and patient investors in the scrip will reap a rich harvest.

Speaking on the partnership, Manish Jobanputra, COO of MOC, said, “It is our privilege to join hands with Tata Capital, which is part of the Tata group that has earned and retained a reputation of being the most ethical industrial and business enterprise in India and globally.”

TIE-UP SYNERGY

Vamesh Chovatia, Partner at Tata Capital Healthcare Fund, said, “MOC is an exciting addition in our healthcare and life science portfolio. As a healthcare-focused fund, we were keen to be at the forefront of addressing cancer care, and with MOC we found a great partner who are a focused medical oncology services delivery chain. The philosophy and mission of MOC, to provide high-quality care at affordable price points, aligned with our objective of financing such scalable and profitable business models.”

Mr Chovatia added, “MOC is bridging the continuum and making treatments for patients accessible and affordable. We are extremely proud of supporting this young energetic team at MOC and it is a privilege to be a part of their noble journey.”

CANCER BURDEN

Every year, approximately 15 lakh people get diagnosed with cancer in India and at any given time there are an additional 25-30 lakh cancer patients who are undergoing treatment. A large number of these patients need chemotherapy and immunotherapy, and a majority need to consult a medical oncologist during their treatment journey. MOC addresses this unmet need with their unique community daycare centres, which are fully compliant hospitals, where these patients can get personalized and highquality care. MOC puts high emphasis on clinical research, technology and tumour boards where the collective wisdom of its oncologists can ensure that the care given is always evidence- based.