Metropolis Healthcare Acquires Agra's Scientific Pathology

New Delhi, Mar 3 (PTI) Metropolis Healthcare on Monday said its unit will acquire Agra-based Scientific Pathology for up to Rs 83 crore.

Metropolis Clinical Pathology, a wholly-owned subsidiary of the diagnostics firm, has inked a business transfer agreement with Scientific Pathology.

The strategic move strengthens Metropolis' presence in Western Uttar Pradesh, accelerates its B2C expansion, and unlocks growth opportunities across the state and beyond, the company said in a statement.

Under the agreement, Metropolis Clinical Pathology will acquire and operate all laboratories and collection centers of Scientific Pathology in Agra and neighbouring towns through a slump sale transaction.

The consideration for the acquisition will range between Rs 55 crore and Rs 83 crore, determined at 12.2x of the adjusted EBITDA over a defined assessment period, Metropolis stated.

The transaction will be executed through a Securities Subscription Cum Shareholders' Agreement (SHA), backed by Metropolis Healthcare, it added.

"Scientific Pathology's strong B2C focus and 40-year legacy align seamlessly with our vision to lead in these markets," Ameera Shah, Promoter and Executive Chairperson, Metropolis Healthcare, stated.

With an estimated market size of Rs 2,000 crore, Uttar Pradesh is one of North India's fastest-growing diagnostic markets.

"We look forward to a seamless integration that enhances healthcare access and benefits patients, doctors, and healthcare providers across Western Uttar Pradesh," Scientific Pathology Founder Ashok Kumar Sharma said.