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Carlyle backs Chinese independent clinical laboratory Adicon

Carlyle Group LP, through Carlyle Asia Partners V, made an undisclosed investment in Chinese independent clinical laboratory Adicon Holdings Ltd.

The private equity giant, which partnered with Meinian Onehealth Healthcare Holdings Co. Ltd. on the investment, is now Adicon's single-largest shareholder.

Adicon has 20 diagnostic laboratories operating in China that serve more than 10,000 customers, including hospitals, clinics and contract research organizations across 28 provinces.

Carlyle Asia Partners V is a $6.55 billion fund targeting buyout and strategic investments across various sectors in the Asia-Pacific region.