Diagnostic services firm Manipal HealthMap acquires Medcis Pathlabs

Company buys remaining stake in peer after first deal in 2022 gave it 84%

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Manipal HealthMap, which provides diagnostic services, has fully acquired Hyderabad-based Medcis PathLabs to expand its presence in 16 states with more than more than 100 centres.

Bengaluru-based Manipal HealthMap is expanding its services under its parent brand Manipal TRUtest. Manipal HealthMap, in April 2022, acquired a 84 per cent stake in Medcis PathLabs for Rs 100 crore in an all-cash transaction. In the new deal, it acquired the remaining 16 per cent stake for an undisclosed amount.

Medcis PathLabs has 23 laboratories in India, including a central facility in Hyderabad that has accreditation for Molecular, Cytogenetics, Histopathology, and Microbiology. The remaining laboratories offer tests for Biochemistry, Haematology, and Immunology tests.

"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,” said Sandeep Sharma, chief executive officer of Manipal HealthMap.

After acquiring Medcis PathLabs, the combined entity will have laboratories at common locations in Pune, Delhi-NCR, Bengaluru, Kolhapur, and Nagpur.

Manipal HealthMap said it is in the advanced stages of regulatory approval for a merger with iGenetic Diagnostic.