Mumbai: Metropolis Healthcare, one of the large players in the medical diagnostic segment with its chain pathology labs and diagnostics services has planned to file its draft Red Herring Prospectus with market regulator SEBI for proposed to IPO (initial public offer) according to recent media reports.
Metropolis, under the leadership of Ameera Shah, has charted an aggressive growth and expansion path in the past 17 years. Metropolis is backed by private equity fund KKR and a Carlyle Private Equity portfolio company.
With more than 4,500 employees, it has grown from 300 centres in FY 2015 to over 2,100 centres and 100-plus labs in FY2018. The company has 8,000 pick-up points from where it collects samples.
If all goes well, Metropolis would be the fourth diagnostic company to look at an IPO. In the recent past,Dr Lal Pathlabs, Thyrocare Technologies and SRL Diagnostics have tapped the market. Metropolis Healthcare has Proposed IPO of over Rs 2000 cr reports ET.
In 2015, The Carlyle Group announced that an affiliate of Carlyle Asia Partners IV has bought a 37 per cent stake in Metropolis Healthcare Limited, a multinational chain of pathology laboratories. Carlyle acquired the stake held by Dr. GSK Velu and his affiliates. The deal approximately cost Rs 900 crore
The same year in April, the Shah family had raised its stake from 36 per cent to 63 per cent by acquiring 27 per cent from private equity firm Warburg Pincus for Rs 550 crore with the backing of KKR India added ET.
Earlier Medical Dialogues reported Metropolis Healthcare has recently acquired Sanjivani Pathology Labs, Rajkot (Gujarat) with the aim of this takeover is to establish a stronger presence in western India, particularly the Gujrat market. Sanjeevani is reported to be Metropolis’s largest laboratory acquisition in India.