Manipal HealthMap acquires 100% stake in Hyderabad-based Medcis PathLabs
Manipal HealthMap acquired Medcis Pathlabs in a Rs 100 crore all-cash deal for a majority stake of 84% last year. The remaining 16% stake has been acquired in the latest transaction.
Manipal HealthMap is taking giant strides to claim the most prominent integrated diagnostics services brand in India under the esteemed Manipal Group.
With 100+ diagnostic centers, Manipal HealthMap is better equipped to provide world-class diagnostic services across 16 states.
News Correspondent, Takmaa News, Kolkata, 19th Oct 2023 : In a major development, Bengaluru-based diagnostic service provider, Manipal HealthMap, has acquired a 100% stake in Hyderabad-based Medcis PathLabs. Under its parent brand Manipal TRUtest, Manipal HealthMap expands its footprint with 23 additional centers which take the total number to 100+ centers across 16 states, strengthening its position as a major integrated diagnostic services brand. Manipal HealthMap had bought an 84% stake in Medcis Pathlabs in April 2022 by paying Rs 100 crore in an all-cash transaction. In their most recent transaction, they have secured the remaining 16% stake.
Medcis Pathlabs, with its headquarters in Hyderabad, presently has 23 laboratories spread across the country. The central laboratory in Hyderabad holds NABL accreditation and specializes in Molecular, Cytogenetics, Histopathology, and Microbiology. The remaining labs offer comprehensive services for Biochemistry, Haematology, and Immunology tests.
Manipal HealthMap is known for its state-of-the-art technology, affordable access, and delivering high-end clinical results across all its centers.
Manipal HealthMap’s integrated diagnostic centers offer a comprehensive range of diagnostic services, where anyone can get different types of tests and scans, like blood tests, X-rays, or MRI scans. This makes it convenient for patients and helps doctors get a complete picture of your health.
Manipal HealthMap places equal importance on both the radiology and pathology domains, catering to a diverse range of sectors including B2G, B2B, B2C, and corporate segments.
Commenting on the development, Dr. (Capt.) Sandeep Sharma, CEO, Manipal HealthMap said, “This is yet another effort to become the largest integrated diagnostics services brand within the Manipal Group. We are delighted with the acquisition of Medcis PathLabs into the Manipal HealthMap family, and with this acquisition, we’re making giant strides to provide world-class diagnostic services.
We’re now serving over 50 lakh satisfied customers across 16 states with this acquisition. It reflects our unfailing commitment to provide high-quality and cost-effective radiology and pathology services coupled with the latest technology.”
Dr. Sharma also confirmed that Dr. Bharat Kumar Anagani, CEO of Medcis PathLabs will continue to play a pivotal role in ensuring the seamless integration of Medcis PathLabs into the Manipal HealthMap.
The combined entity will also have a consolidated back-end operation of its labs at common locations of Pune, Delhi-NCR, Bengaluru, Kolhapur, and Nagpur.
Manipal HealthMap is in advanced stages of regulatory approval for a merger process with iGenetic Diagnostic.
