Thyrocare Technologies has announced he acquisition of Polo Labs' diagnostic and pathology business for a cash consideration of Rs 4.26 crore.
Thyrocare has entered into a business transfer agreement (BTA) with Polo Labs and the existing shareholders of Polo.
Polo Labs is engaged in the business of providing diagnostics and pathological services.
Thyrocare stated that the aforementioned acquisition is being made with an aim to expand the companys diagnostic and pathological services business through this acquisition.
The said acquisition is subject to long stop of 60 business days from the execution date of the BTA and the fulfilment of the conditions precedent. The closing shall take place within 30 business days from the date of receipt of the CP Completion Certificate to the satisfaction of the company.
Thyrocare Technologies is engaged in the healthcare industry and is involved in providing quality diagnostic services at affordable costs to patients, laboratories and hospitals in India.
The scrip shed 0.18% to currently trade at Rs 648 on the BSE today.
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