SRL Diagnostic completes acquisition of Lifeline Laboratory

Mumbai: SRL Diagnostic has completed the acquisition of Lifeline Laboratory. This strategic partnership will accelerate the next phase of growth for the business.

Wodehouse Capital was the exclusive financial advisor to Lifeline Laboratory and they were assisted by Khaitan & Co, as the legal advisor to the sellers.

SRL Diagnostics has an annual revenue exceeding Rs 1,600 crore. Headquartered in Gurgaon, it has over 400 labs and over 9,000 collection centres. It offers more than 3,500 different tests in pathology, radiology, wellness, occupational health, and clinical trials and conducts more than 100,000 tests in a day.

Lifeline Laboratory, led by Dr Angeli Misra and Dr Asha Bhatnagar offers an entire range of pathology tests and services including FISH, karyotyping, molecular oncology, immunofluorescence, immunohistochemistry, infectious molecular testing including multiplex PCR and frozen section using the latest technology.

Dr Angeli Misra, Partner, Lifeline Laboratory believes this strategic partnership would accelerate the next phase of growth for the overall business. Dr Misra is delighted that their brand provides immense synergies and is a natural fit for SRL’s extensive network. She stated, “Under SRL’s management, I am confident that Lifeline shall have a wider market reach and recall in an otherwise crowded segment.”

Manmohan Tiwana, Managing Director & CEO, Wodehouse Capital believes this acquisition by SRL sets up Lifeline for its next stage of growth. He shared, “Lifeline will benefit tremendously from SRL’s industry-leading distribution network and operational efficiencies while SRL gets an incredible NCR-focused brand that stands for quality and service. We are confident that the SRL – Lifeline transaction will be a huge win-win."