Candesic sets up due diligence unit

Candesic, a healthcare due diligence unit based in London has been formed by a team from McKinsey. The group will be looking at investments of between 10m and 200m, typically later stage biotech, medical devices, medical services, and pharma spinouts. Victor Chua, a former medical doctor from Cambridge and specialist in ophthalmic surgery will lead the team.

Other team members include Dr Leonid Shapiro, who has an MD from Duke University and a PhD in radiological physics from Oxford, and Dr Sree Kamineni, a former dentist with an ACA and MBA. All three were at McKinsey before Candesic. Dr Chua said: “We have worked for three private equity firms so far in deals worth between 10m and 150m.”