Khazanah Nasional Berhad led a $88m financial round in Adicon.

Khazanah Nasional Berhad, a sovereign wealth fund of the Government of Malaysia, led a $88m financial round in Adicon Holdings, a third-party independent clinical laboratory company in China, with participation from Lake Bleu Capital, Cenova Capital, OrbiMed and Mirae Asset. Carlyle will remain the single largest shareholder in Adicon following this round. “This successful funding round is a testament to Adicon’s significant progress as a leading independent clinical laboratory platform in China. Carlyle is a long-term investor, and we are committed to continue working with the management team and Mr. Xu Ke, the newly appointed CEO, to further expand the company’s diagnostic testing capabilities and services. We welcome Khazanah and other new investors, and thank them for their support,” Ling Yang, Adicon’s Chair of Board of Directors.