Manipal Group entity and diagnostic service provider Manipal HealthMap has acquired a majority stake in Hyderabad-based MedcisPathlabs, in an all-cash deal.
MedcisPathlabs currently operates 17 labs across the southern, western and northern parts of the country. The central lab in Hyderabad is NABL-accredited and caters to the molecular and cytogenetics segments. All other labs cater to an exhaustive service for biochemistry, haematology and immunology tests, Manipal HealthMap said in a release on Tuesday.
“The 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,” Manipal HealthMap CEO Sandeep Sharma said. The deal is 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 reach and offerings, he said.
The combined entity will also have a consolidated back-end operation of its labs at common locations of Pune, Delhi, Bengaluru and Nagpur.
