Manipal HealthMap acquires MedcisPathLabs of Hyderabad

Hyderabad: Manipal HealthMap, an integrated diagnostic service provider, has announced the acquisition of city-based MedcisPathlabs Pvt Ltd in an all-cash deal for a majority stake. With this deal, Manipal HealthMap expands its footprint to 60 centres across 14 States, strengthening its position as a major integrated diagnostic services brand. Manipal HealthMap is known for its state-of-the-art technology, affordable access, and delivering high-end clinical results across all its centres. Through this acquisition, Manipal HealthMap will have access to additional 19 laboratories, including one NABL accredited central laboratory (based in city).

"We are delighted to welcome MedcisPathlabs 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," Dr (Capt) Sandeep Sharma, CEO, Manipal HealthMap said.

The deal was also in line with their strategy to achieve high growth in the integrated diagnostic space and gain significant market share by acquiring existing facilities and organically expanding our reach and offerings, he added. MedcisPathlabs, currently operates via 17 labs located across the southern, western, and northern parts of the country. The central lab in Hyderabad is NABL-accredited and caters to the molecular and cytogenetics segments.

"We are excited to associate with Manipal HealthMap, which has a long history of delivering high clinical and service excellence in diagnostics services across India and these qualities are well ingrained in the ethos of Medcis Path labs as well. In this new journey with Manipal HealthMap, we are certain of meeting the growing and ever evolving demands of pathology services across the length and the breadth of the country," Bharat Kumar Anagani, CEO, MedcisPathlabs said.