HYDERABAD: Based in Bengaluru diagnostic service provider Manipal HealthMap has acquired 100% stake in Hyderabad-based Medcis PathLabs for a consideration of Rs 100 crore in an all-cash deal.
The Manipal group company had acquired an 84% stake in the Hyderabad-based diagnostics player for Rs 84 crore in an all-cash deal in April 2022 and has now bought the remaining 16% stake for Rs 16 crore in Medcis PathLabs , which has a network of 23 laboratories spread across the country.
Manipal HealthMap CEO Dr. (Capt) Sandeep Sharma said the acquisition is part of plans to grow into the largest integrated diagnostic services brand within the Manipal Group. He added that Medicis PathLabs CEO Dr. Bharat Kumar Anagani will continue to play a key role in ensuring the seamless integration of Medcis PathLabs into Manipal HealthMap.
The combined entity will have a consolidated back-end operation of its laboratories at common locations such as Pune, Delhi-NCR, Bengaluru, Kolhapur and Nagpur, he added.
While Medcis PathLabs’ central laboratory in Hyderabad, which has NABL accreditation, specializes in molecular, cytogenetics, histopathology and microbiology, the remaining laboratories offer services in biochemistry, hematology and immunological testing.
The Manipal group company had acquired an 84% stake in the Hyderabad-based diagnostics player for Rs 84 crore in an all-cash deal in April 2022 and has now bought the remaining 16% stake for Rs 16 crore in Medcis PathLabs , which has a network of 23 laboratories spread across the country.
Manipal HealthMap CEO Dr. (Capt) Sandeep Sharma said the acquisition is part of plans to grow into the largest integrated diagnostic services brand within the Manipal Group. He added that Medicis PathLabs CEO Dr. Bharat Kumar Anagani will continue to play a key role in ensuring the seamless integration of Medcis PathLabs into Manipal HealthMap.
The combined entity will have a consolidated back-end operation of its laboratories at common locations such as Pune, Delhi-NCR, Bengaluru, Kolhapur and Nagpur, he added.
While Medcis PathLabs’ central laboratory in Hyderabad, which has NABL accreditation, specializes in molecular, cytogenetics, histopathology and microbiology, the remaining laboratories offer services in biochemistry, hematology and immunological testing.
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