News Update

Sequoia-Backed Pathology Services Suburban Diagnostics Is Up For Sale

• ByStartupStory     |    June 18, 2021

Sequoia-backed pathology services Suburban Diagnostics is up for sale. Talks are on with Dr. Lal Pathlabs, Metropolis, PharmEasy, and a clutch of private equity funds for a complete sale. This Mumbai based diagnostic chain is up for bids ranging between 800 crore to 1200 crore. With the onset of Pandemic, Suburban Diagnostics have seen a spike in their revenue with Covid -19 testing and home collection.

Suburban Diagnostics clocked revenues of Rs 170.22 crore in the financial year that ended on March 31, 2020, as against Rs 149 crore in the previous year, according to data from Tofler. Its post-tax profit for FY20 was Rs 7.55 crore. And since Suburban Diagnostics is up for sale, they are receiving quite a good number of bidders.

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