Liquidity Events
Metropolis Healthcare acquires 100% stake in oncology player Core Diagnostics for Rs.247-Cr
Mumbai-headquartered pathology laboratory chain Metropolis Healthcare will acquire 100% stake in Delhi-NCR based specialised cancer diagnostics player Core Diagnostics . The deal values Core Diagnostics at INR 246.8 crore. The acquisition will be structured with 55% in cash and 45% through an equity swap.During the first year, both companies will operate under their own brands, and in the second year, Core will operate under Metropolis’ brand for oncology testing.Founded in 2012, Core operates in 200 cities, with eight labs, touchpoints in 200 locations, and connections with 1,200 hospitals and midsized labs.
Between Jan 2013 and Dec 2016, Core Diagnostics had raised about USD 17 M from Artiman Ventures and Eight Roads Ventures.
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