M&A

M&A

Diagnostic service provider Manipal HealthMap acquires 84% stake in Medcis Pathlabs for Rs.100-Cr in

Economic Times  

Manipal HealthMap, a New Delhi-based integrated diagnostic service provider, has acquired Hyderabad-based Medcis Pathlabs in an all-cash deal worth INR 100 crore for a 84% stake. With this deal, Manipal HealthMap expands its footprint to 19 additional centres taking the total number to 60 centres across 14 states. Medcis has posted a revenue of INR 70 crore in FY22. It currently operates through 17 labs located across the southern, western, and northern parts of the country. The central lab in Hyderabad caters to the molecular and cytogenetics segments. All other labs cater to an exhaustive service for biochemistry, haematology, and immunology tests.