Chennai-based Neuberg Diagnostics Pvt Ltd said today Neuberg Supratech Reference Laboratory, Ahmedabad, and Neuberg Anand Reference Laboratory, Bengaluru, have been successfully merged with the company. The merger, facilitated through an NCLT court-based process, has brought the company a step closer to its initial public offering (IPO).

Neuberg Diagnostics earlier said it plans to launch an IPO in the latter part of 2024 or early 2025. “This move aligns with the company’s growth strategy, enabling it to attract additional resources to expand operations,” the company said in a press statement. 

GSK Velu, Chairman and Managing Director, Neuberg Diagnostics, had earlier told businessline that the company is working on draft documents and other details, including finalising merchant bankers for the public issue. He had then said the company is awaiting NCLT approval for the merger of Supratech Microtech and Anand Diagnostic with the company. 

In his latest statement, Velu said the merger is projected to contribute gross revenues of over ₹1,000 crore to the group in the current fiscal. 

The company also announced the appointment of Sandip Shah as Joint Managing Director of Neuberg Diagnostics and Sujay Prasad as  the Chief Medical Director of the diagnostic chain. Ganesan, will continue in his role as Vice-Chairman of Neuberg Diagnostics, it said. 

Also read: Neuberg Diagnostics to invest ₹30 cr for Kerala expansion

Currently, the Neuberg Diagnostics group has over 175 labs and over 10,000 touch-points across four countries, including India, the UAE, South Africa, and the US. 

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