Manipal HealthMap acquires Hyderabad-based Medcis PathLabs in all cash-deal
Manipal HealthMap on Tuesday announced the acquisition of Hyderabad-based Medcis Pathlabs Pvt Ltd in an all-cash deal for a majority stake.
With this deal, Manipal HealthMap expands its footprint to 19 additional centres taking the total to 60 centres across 14 states, thereby strengthening its position as a major integrated diagnostic services brand. The company is known for its state-of-the-art technology, affordable access, and the delivery of high-end clinical results across all its centres.
“We are delighted to welcome Medcis Pathlabs to the Manipal HealthMap family and bring in new advanced standards of integrated diagnostics services in the country. This acquisition is in sync with our brand salience to serve patients across multiple states with high quality yet affordable radiology and pathology services supported with state-of-the-art technology for accuracy and faster reporting,” said Sandeep Sharma, chief executive officer, Manipal HealthMap.
He added that the deal was also in line with the company's strategy to achieve growth in the integrated diagnostic space and gain significant market share by acquiring existing facilities and organically expanding its reach and offerings.
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