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For 36-year-old Ameera Shah of Metropolis Healthcare, not only is this year significant, but also the month, as it holds more reasons to celebrate than just her birthday.
The pathology laboratories chain Metropolis has just seen its second stake related transaction this year, with private equity group Carlyle saying that it would acquire the stake of GSK Velu and his affiliates in Metropolis, for an undisclosed sum.
While the erstwhile partner and serial entrepreneur Velu could not be reached, a source familiar with the deal said the transaction was pegged at about ₹900 crore for a less than 37 per cent equity in Metropolis. In April, the promoter Shah family had bought back Warburg Pincus’ 27 per cent stake in Metropolis.
This is a “turning year” where promoters have gone from holding a minority stake to a majority stake (63 per cent), Ameera Shah, Metropolis Managing Director and Chief Executive and younger daughter of founder-Chairman Sushil Shah, told BusinessLine .
Underlining the importance of having complete control in the company, she said it is an important phase and the company will see tremendous growth both in the country and overseas. With 130 labs and 1,000 collection centres in seven countries, Metropolis’ turnover stood at ₹600 crore.
The Carlyle Group said that an affiliate of Carlyle Asia Partners IV had bought the stake from Velu.
An industry source indicated that Velu’s exit was possibly to focus on his mainstay medical technology business Trivitron.
Focus on emerging marketsLooking to build the business, Shah indicated that listing on the stock exchange was not on the agenda. The emerging markets will be her canvas. And while the company looks to grow organically, “We have always been open to acquisitions,” she adds.
The path labs segment in the country is largely fragmented with few key players, including Dr Lal’s Pathlabs and SRL Diagnostics.
As for the “deal fatigued” junior Shah, she says after having navigated six deals in 12 months, she would look to “take a breather”, following which it’s back to growing the business.
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