Manipal HealthMap Acquires iGenetic Diagnostics: Expansion in Diagnostics Sector
By Rediff Money Desk, New Delhi Oct 22, 2024 16:12
Manipal HealthMap has acquired iGenetic Diagnostics, strengthening its presence in key markets and expanding its reach across India. The acquisition will create a more integrated and efficient diagnostic services network, offering cutting-edge solutions to patients.
New Delhi, Oct 22 (PTI) Manipal HealthMap, the diagnostics arm of Manipal Group, on Tuesday said it has fully acquired Mumbai-based iGenetic Diagnostics for an undisclosed amount.
With the acquisition, the company is set to strengthen its presence in key markets, including Maharashtra, Madhya Pradesh, and Karnataka, while expanding its pan-India reach.
"This is a strategic step toward creating a more integrated and efficient diagnostic services network, offering cutting-edge solutions to patients across India," Manipal HealthMap CEO Sandeep Sharma said in a statement.
iGenetic Diagnostics, established in 2013, is recognised for its focus on high-end molecular diagnostics and critical care services.
The company said it plans to accelerate its expansion efforts to establish over 200 centres by 2027, solidifying its leadership in the integrated diagnostics sector.
As per industry estimates, India's diagnostics sector, valued at USD 15 billion, is experiencing rapid growth, yet remains fragmented with over 1 lakh laboratories across the country.
With the acquisition, the company is set to strengthen its presence in key markets, including Maharashtra, Madhya Pradesh, and Karnataka, while expanding its pan-India reach.
"This is a strategic step toward creating a more integrated and efficient diagnostic services network, offering cutting-edge solutions to patients across India," Manipal HealthMap CEO Sandeep Sharma said in a statement.
iGenetic Diagnostics, established in 2013, is recognised for its focus on high-end molecular diagnostics and critical care services.
The company said it plans to accelerate its expansion efforts to establish over 200 centres by 2027, solidifying its leadership in the integrated diagnostics sector.
As per industry estimates, India's diagnostics sector, valued at USD 15 billion, is experiencing rapid growth, yet remains fragmented with over 1 lakh laboratories across the country.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- G G Engineering
- 2.13 (+ 12.11)
- 70001344
- Vodafone Idea L
- 7.67 ( -5.66)
- 68482952
- Srestha Finvest
- 0.66 ( -4.35)
- 32525731
- GTL Infrastructure
- 1.98 ( -4.81)
- 26692659
- AvanceTechnologies
- 0.82 (+ 2.50)
- 23608944
MORE NEWS
Coal India Q2 Profit Drops 22% to Rs 6,275 Cr
Coal India Ltd (CIL) reported a 22% drop in consolidated profit for the quarter ended...
Haryana CM Orders MSP Purchase for All Paddy:...
Haryana CM Nayab Singh Saini has instructed officials to ensure the purchase of every...
Trai's Digital Connectivity Rating Platform for...
Trai launches a rating platform to assess and rate properties based on digital...