MOC Cancer Care & Research Centre has secured an $18 million investment, with Elevation Capital leading the funding round. The fresh capital injection is set to fuel the company’s expansion, bolster its service offerings, and strengthen its presence in key regions.
Strategic Growth Backed by Investors
This is not the first time MOC has attracted substantial investor interest. In January 2023, the Mumbai-based cancer care provider raised $10 million from Tata Capital Healthcare Fund to enhance its operational capabilities and invest in new technology. Now, with this latest funding, MOC is looking to scale even further.
The company aims to expand its network by opening new centres while introducing diversified cancer care services. With a focus on daycare oncology, MOC primarily provides chemotherapy and medical management of cancer, making specialized treatment more accessible and affordable.
A Vision Rooted in Patient-Centric Care
MOC was founded in 2018 by oncologists Dr Ashish Joshi, Dr Kshitij Joshi, Dr Pritam Kalaskar, and Dr Vashishth Maniar. What started as a vision has transformed into a network of community cancer centres committed to making treatment easier for patients by ensuring proximity, affordability, and quality care.
Over the past seven years, MOC has scaled its operations significantly. The company claims to have treated over 450,000 cancer patients through a team of 47 highly qualified oncologists. With 24 centres across Mumbai, Pune, Maharashtra, Ahmedabad, Indore, and Chhattisgarh, the company continues to establish itself as a major player in community cancer care.
Expanding Reach Through Strategic Mergers
MOC’s aggressive expansion strategy gained momentum in May 2024 when it joined forces with Hemato Oncology Clinic (HOC), India’s second-largest independent chain of community cancer care centres. This strategic partnership allowed MOC to extend its footprint into Gujarat, further strengthening its network.
Looking ahead, the company plans to enter Delhi NCR and other regions across India. Additionally, MOC is working on developing a molecular oncology lab and preventive oncology services, a move that underscores its commitment to advancing cancer care through innovation and early detection.
Elevation Capital’s Recent Moves
Elevation Capital’s involvement in MOC’s growth comes at a time of transition for the venture capital firm. Recently, Vivek Mathur, Partner and Chief Operating Officer (COO) at Elevation Capital, stepped away after 14 years to focus on advisory and mentorship roles. Meanwhile, the firm promoted two of its key executives, Vaas Bhaskar and Chirag Chadha, to partner roles in October last year.
With this latest funding round, Elevation Capital reaffirms its confidence in MOC’s vision and execution. As MOC moves forward with its ambitious expansion plans, its ability to bring quality cancer care closer to patients will remain the focal point of its strategy.
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