Bengaluru-based diagnostic services provider, Manipal HealthMap, has recently concluded the acquisition of a 100% stake in Medcis PathLabs, a prominent player based in Hyderabad. This strategic acquisition comes on the heels of Manipal HealthMap's earlier investment in April 2022, where they acquired an 84% stake in Medcis PathLabs for a substantial sum of Rs 100 crore in an all-cash transaction.
This recent development signifies Manipal HealthMap's commitment to solidify its position as the leading integrated diagnostics services brand within the Manipal Group. The acquisition of the remaining 16% stake in Medcis PathLabs marks a pivotal step towards this goal. Dr (Capt) Sandeep Sharma, the CEO of Manipal HealthMap, expressed that this acquisition aligns with their broader plans and vision for growth in the diagnostics sector.
Dr Bharat Kumar Anagani, the CEO of Medcis PathLabs, will continue to play a crucial role in overseeing the seamless integration of Medcis PathLabs into the Manipal HealthMap ecosystem. This collaborative effort aims to bring about synergies that enhance the overall efficiency and effectiveness of diagnostic services.
The combined entity, post-acquisition, is set to have a consolidated back-end operation for its laboratories located in key cities like Pune, Delhi-NCR, Bengaluru, Kolhapur, and Nagpur. This strategic consolidation is anticipated to streamline operations, leverage shared resources, and optimize service delivery to a larger audience.
Medcis PathLabs, known for its high-quality diagnostics services, operates a central laboratory in Hyderabad with NABL accreditation. The specialities of this central lab include molecular, cytogenetics, histopathology, and microbiology. Additionally, the various labs under Medcis PathLabs offer a spectrum of services, covering biochemistry, haematology, and immunology tests.
Manipal HealthMap highlighted that the acquisition will expand its footprint by adding 23 new centers to its Manipal TRUtest network. This network, post-acquisition, will comprise over 100 centers, serving a vast customer base exceeding 50 lahks across 16 states. The geographical diversification and increased service points are expected to enhance accessibility and convenience for patients seeking diagnostic services.
Manipal HealthMap, with its integrated diagnostic centres, caters to a wide range of diagnostic needs, including various tests, scans, blood tests, X-rays, and MRI scans. The services extend across diverse segments, including business-to-government (B2G), business-to-business (B2B), business-to-consumer (B2C), and corporate segments.
This strategic move underlines the dynamism and growth potential in the healthcare industry, where consolidation and integration are becoming key strategies to offer comprehensive and efficient services to a broader audience. As Manipal HealthMap continues to evolve and expand its network, the focus remains on delivering quality diagnostic services that contribute to the well-being of individuals and communities across the country. Stay tuned for more updates on this transformative journey in healthcare