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Manipal HealthMap, an integrated diagnostic service provider, has acquired the Hyderabad-based Medcis Pathlabs in an all-cash deal for a majority stake. With this deal, Manipal HealthMap expands its footprint to 19 additional centres taking the total number to 60 centres across 14 states.
A statement said on Tuesday that Manipal HealthMap is known for its technology, affordable access and delivering high-end clinical results across all its centres.
Through this acquisition, Manipal HealthMap will have access to additional 19 laboratories, including one NABL-accredited central laboratory based in Hyderabad. The NABL-accredited central lab of Medcis Pathlabs caters to the molecular and cytogenetics segments. All other labs cater to an exhaustive service for biochemistry, haematology and immunology tests.
The statement said that the combined entity will have a consolidated back-end operation of its labs at common locations of Pune, Delhi, Bengaluru and Nagpur.
Quoting Sandeep Sharma, Chief Executive Officer of Manipal HealthMap, said: “We are delighted to welcome Medcis Pathlabs to the Manipal HealthMap family and bring in new advanced standards of integrated diagnostics services in the country. This acquisition is in sync with our brand salience to serve patients across multiple states with high quality yet affordable radiology and pathology services supported with state-of-the-art technology for accuracy and faster reporting.”
The deal was also in line with the strategy to achieve high growth in the integrated diagnostic space and gain significant market share by acquiring existing facilities and organically expanding the reach and offerings, he said.
Bharat Kumar Anagani, Chief Executive Officer of Medcis Pathlabs, said, “We are excited to associate with Manipal HealthMap, which has a long history of delivering high clinical and service excellence in diagnostics services across India and these qualities are well ingrained in the ethos of Medcis Path labs as well. In this new journey with Manipal HealthMap, we are certain of meeting the growing and ever evolving demands of pathology services across the length and the breadth of the country.”
Published on April 5, 2022
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