Metropolis Healthcare signs binding agreement to buy Shraddha Diagnostics
New Delhi: Pan-India pathology specialist chain Metropolis Healthcare Ltd. has signed a binding agreement to acquire Ahmedabad-based Shraddha Diagnostics Pvt Ltd.
With this acquisition, Metropolis has expanded its lab footprint from 17 to 20 in 9 cities and towns including Ahmedabad, Surat, Baroda, Mehsana, Rajkot, Navsari, Jamnagar, Bharuch and Gandhidham. At present, the company has 300 patient service network centres across Gujarat and services over 1500 clients through its B2B network.
Ameera Shah, Promoter and Managing Director, Metropolis Healthcare Ltd said that through the acquisition, the company looks to gain profitable market share even as it aims to enhance operational capabilities and expand its testing menu.
"Gujarat has always been an important market for us. In October 2019, we acquired four laboratories in Surat that increased our market share and we are now leaders in the region. Our immediate focus would be to fully integrate and modernize these laboratories and in terms of diagnosis, deliver on our promise of integrity, empathy, and accuracy," Shah added.
Since, 2002, Metropolis has used its brand strength to establish large networks through acquisitions in Chennai, Rajkot, Surat, Bangalore, Pune as well as outside India.