US-based Mayo Clinic picks up a minority stake in Ratan Tata backed cancer care platform, Karkinos Healthcare Pvt. Ltd., to lead to support Karkinos’ cancer care initiative. Karkinos is a technology-driven oncology platform creating and providing customised cancer treatment solutions. The company’s mission is to establish “cancer centres without boundaries” to tackle cancer care’s accessibility and affordability issues.
About Mayo Clinic and Karkinos:
Karkinos Healthcare intends to use an end-to-end technology platform to coordinate cancer care and research in India. It aims to combat the country’s high cancer rates. The platform will benefit medical centres that treat complex diseases by developing low-cost cancer therapies, employing genomics, synthetic biology, sensors, and artificial intelligence, and undertaking research with these technologies.
On the other hand, Mayo Clinic is a 501(c)(3) non-profit institution dedicated to delivering expert whole-person treatment to anybody in need of healing. Thousands of patients come to Mayo Clinic sites, and their International Patient Offices ensure that language and distance do not prevent them from obtaining world-class care. Mayo Clinic’s objective is to provide the greatest care possible to inspire hope and contribute to health and well-being.
The Mayo Clinic and Karkinos Collaboration:
Mayo Clinic and Karkinos Healthcare have formed a strategic alliance that includes Mayo making a minority investment in Karkinos, subject to certain restrictions. The two companies will collaborate on healthcare solutions and create technical know-how. Mayo Clinic will also nominate someone to the Karkinos Board of Directors.
Neither business has mentioned the amount of the investment or how it will be utilised. Earlier in 2021, Karkinos had raised undisclosed amounts of investment from investors like Rakuten Medical, global clinical-stage biotechnology business and Endiya Partners. Reliance Digital Health has also acquired a minority stake in Karkinos for an undisclosed amount. Tata Group has backed Karkinos with Rs.110 crore investment.
Karkinos has also received capital from notable investors like Ratan Tata, Venu Srinivasan, Kris Gopalakrishnan, Ronnie Screwvala, Vijay Shekar Sharma, and Bhavesh Agarwal.
The organisation has a powerful technology platform and collaborates with a variety of healthcare institutions and individuals in the oncology ecosystem. It has facilities in Kerala’s Ernakulam and Idukki districts and wants to expand its operations across the country. In collaboration with the Manipur State government, Karkinos is also establishing a cancer facility on the JNIMS (Jawaharlal Nehru Institute of Medical Sciences) grounds.
