Manipal HealthMap acquires Medcis

Hyderabad: Bengaluru-based diagnostic service provider, Manipal HealthMap, on Tuesday said it has acquired Hyderabad-based Medcis Pathlabs Pvt Ltd in an Rs 100 crore all-cash deal for a majority stake of 84%.

With this acquisition, Manipal HealthMap has now expanded its footprint to 60 centres across 14 states. Manipal HealthMap will also have access to additional 19 laboratories, including one NABL accredited central laboratory in Hyderabad.

The combined entity will also have a consolidated back-end operation of its labs at common locations of Pune, Delhi, Bengaluru, and Nagpur. Medcis Pathlabs currently operates 17 labs located across the country and had logged revenues of Rs 70 crore last fiscal.tnn