Manipal HealthMap group acquires Hyderabad-based Medcis PathLabs
- ByStartupStory | April 7, 2022
Manipal HealthMap, India’s biggest integrated diagnostic service provider, has paid Rs 100 crore for Hyderabad-based Medcis Pathlabs. HealthMap will buy an 84 percent share in Medcis Pathlabs under the terms of the transaction. According to sources familiar with the matter, Medcis earned Rs70 crore in FY22.
Manipal HealthMap expands its footprint to 19 more locations, bringing the total number of locations to 60 across 14 states, bolstering its position as a significant integrated diagnostic services brand. The organization is noted for its cutting-edge technology, inexpensive access, and high-quality clinical results across all of its locations.
Sandeep Sharma, CEO of Manipal HealthMap, stated, “This acquisition is in accordance with the brand ambition to offer patients across many states high-quality yet inexpensive radiology and pathology services supported by state-of-the-art technology for accuracy and faster reporting.”
He went on to say that the acquisition was in keeping with the company’s strategy of purchasing existing facilities and organically increasing its reach and offerings to grow in the integrated diagnostic arena and earn considerable market share.
Medcis Pathlabs, headquartered in Hyderabad, currently has 17 labs spread across the country’s southern, western, and northern regions. The molecular and cytogenetics sectors are served by the central lab, which is NABL-accredited. All other labs provide comprehensive biochemistry, hematology, and immunology testing services.
In addition, the combined firm would have a centralized back-end operation for its labs in Pune, Delhi, Bengaluru, and Nagpur.
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