HYDERABAD: Bengaluru-based diagnostic services 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, in April 2022, picked up 84% stake in the Hyderabad-based diagnostics player for Rs 84 crore in an all-cash deal and has now bought the remaining 16% stake for Rs 16 crore in Medcis PathLabs, which has a network of 23 laboratories across the country.
Manipal HealthMap CEO Dr (Capt) Sandeep Sharma said the acquisition is part of plans to emerge as the largest integrated diagnostics services brand within the Manipal Group. He added that Medcis 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 labs 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, specialises in molecular, cytogenetics, histopathology, and microbiology, the remaining labs offer services for biochemistry, haematology, and immunology tests.
The Manipal group company had, in April 2022, picked up 84% stake in the Hyderabad-based diagnostics player for Rs 84 crore in an all-cash deal and has now bought the remaining 16% stake for Rs 16 crore in Medcis PathLabs, which has a network of 23 laboratories across the country.
Manipal HealthMap CEO Dr (Capt) Sandeep Sharma said the acquisition is part of plans to emerge as the largest integrated diagnostics services brand within the Manipal Group. He added that Medcis 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 labs 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, specialises in molecular, cytogenetics, histopathology, and microbiology, the remaining labs offer services for biochemistry, haematology, and immunology tests.
