Nicholas' Wellspring buys Jankharia Imaging

Nicholas' Wellspring buys Jankharia Imaging

Our Web Bureau / Mumbai January 04, 2007

Wellspring, the chain of pathology laboratories and diagnostic centres promoted by Nicholas Piramal India has acquired Mumbai-based radiology and imaging centre Jankharia Imaging.

According to an official release issued by Nicholas Piramal to the BSE today, the new entity would be renamed Wellspring-Jankharia Imaging. Following the acquisition Wellspring would be the first corporate diagnostic provider to enter into high-end health imaging services.

Wellspring has ambitious investment plans in the next two years during which it would offer tele-radiology solutions requiring expert radiology opinions across India and abroad. It intends to have high end imaging centers across the country and would be looking for many more partners in key cities across India. It would also tap areas like public private partnership opportunities being offered by government-run medical college hospitals across the country, the release said.

Swati Piramal, strategic alliances & communications director of Nicholas Piramal, said: "The Indian health imaging market is expected to double from the existing $350 million in the next five years. Hence, we consider the acquisition to be a strategic fit into Wellspring