Warburg has sold its 27 per cent stake in Metropolis to the promoter family. At present, Shah family and GSK Velu, founder of Metropolis equally hold the remaining stake in Metropolis. Financial details of the deal were not yet disclosed.
Niten Malhan, India managing director, Warburg, said, “The decision to invest in Metropolis in 2010 was based on our thesis that demand for and growth trends in medical diagnostics would continue and that Metropolis was well positioned to benefit."
Ameera Shah, MD & CEO, Metropolis Healthcare Ltd, said, “The company is now supported by eminent independent directors and I am backed by other marquee investors including KKR and eminent industrialists. The relationship with Warburg Pincushas a mutually beneficial for the investor and the company.”
Metropolis, founded in 1998, has a network of 125 laboratories across India and 6 other countries in the emerging markers, with over 750 collection centres, processing over 15 over 4500 varieties of tests with a team of more than 3,500 people.
It delivers over 15 million tests a year, catering to more than 10,000 laboratories, hospitals, nursing homes and 2,00,000 consultants. Metropolis Healthcare has presence in UAE, Sri Lanka, South Africa, Kenya, Mauritius and Ghana.