Diagnostic service provider Metropolis Healthcare announced it has completed the acquisition of Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd. (Hitech) along with its subsidiary Centralab Healthcare Services Private Limited.
Metropolis has acquired 100% equity of Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd. & its subsidiary Centralab Healthcare Services Private Limited in all cash deal for Rs. 636 Crores, the company said in its statement.
With the acquisition of Hitech Diagnostics, Metropolis will strengthen its position as 2nd largest Diagnostics company in India and largest brand in South and West India, the statement said.
Commenting on the development, Ameera Shah, Managing Director, Metropolis Healthcare Ltd, said, “I am pleased to share that we have successfully completed the acquisition of Hitech Diagnostic centre. In line with our growth strategy, this acquisition will enable Metropolis to gain market share, strengthen our leadership position in South India market and increase the B2C share of the business. This acquisition will also enable Metropolis to cater to mid segment of the market and leverage scale benefits. Our M&A strategy revolves around acquiring high-quality, profitable B2C businesses with a scientific approach to diagnostics. We will continue to evaluate such high-quality profitable and scalable opportunities and take a pragmatic view on M&A.”
Dr. SP. Ganesan, Promoter, Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd, said, “I am very pleased to be joining the MHL family and believe there is a big opportunity to serve the people and grow Hitech under MHL umbrella. We share similar business ethos as Metropolis with focus on quality, accuracy, and highest level of customer service. I look forward to work closely with the MHL team for the smooth transition.”
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