M&A

M&A

Redcliffe Labs to acquire Megavision Diagnostics in Rs.40-Cr deal

Inc42  

Noida-based Redcliffe Labs is set to acquire Pune-based diagnostic chain Megavision Diagnostics in a transaction valued at about INR 40-Cr (USD 4.14-M). The acquisition is expected to conclude later this month, and the firm will retain the entire workforce of Megavision.Founded in 1996, Megavision operates two diagnostic centres in the Pimpri and Nigdi areas of Pune, providing services such as MRI, CT scans, ECG, EEG, and sonography. The company reports an annual revenue of INR 20-Cr. Redcliffe Labs plans to integrate these facilities into its network to expand its service portfolio beyond pathology into integrated diagnostics, leveraging existing imaging infrastructure rather than building new centres from scratch.Redcliffe Labs, founded in 2018 by Aditya Kandoi and Dheeraj Jain, provides an omnichannel diagnostic platform. The firm recently acquired Kota-based Prime Sonography and Diagnostic Center and Ajmer-based Sarvodaya Diagnostics in deals valued at Rs.5-Cr and Rs.10-Cr, respectively, to bolster its footprint in Rajasthan. Redcliffe has raised $115-M to date from LeapFrog Investments, HealthQuad, LC Nueva Investment Partners, Alkemi Venture Partners, and Chiratae Ventures.