Genetic testing player MedGenome acquires Prognosis Laboratories

Bengaluru-based MedGenome has acquired Delhi-NCR based diagnostic lab Prognosis Laboratories. Prognosis Laboratories was established in 2013 by Dr. Smita Sadwani, Dr. Deepak Sadwani and Mayank Madan. The lab provides diagnostics, microbiology and radiology services. The company claims to have a test catalogue of over 700 tests spread across pathology, radiology, histopathology, immunology, biochemistry, microbiology and serology. Wodehouse Capital was the exclusive financial advisor to Prognosis Laboratories for the transaction. Khaitan & Co acted as the legal counsel for the sellers. The acquisition is expected to augment MedGenome's diagnostic portfolio, foothold in Northern India, coupled with complementary business models and natural synergies to drive growth and profitability.