Metropolis Healthcare Limited has announced its acquisition of a 100% stake in Core Diagnostics Private Limited, a prominent player in the diagnostic sector, for a total purchase consideration of INR 246.83 crores. This deal includes both a cash consideration of INR 135.76 crores and a share swap for the remaining amount, subject to shareholder approval.
The acquisition of Core Diagnostics will strengthen Metropolis Healthcare’s portfolio in advanced cancer testing and expand its footprint in Northern and Eastern India. The acquisition will also help Metropolis leverage Core Diagnostics’ existing relationships with top cancer specialists and hospitals in the region.
Core Diagnostics, founded in 2012 and based in Gurgaon, Haryana, has a turnover of INR 110.32 crores in FY 2023-24. It specializes in diagnostic services, particularly in the field of oncology. Metropolis plans to integrate Core’s advanced diagnostic services with its existing offerings, enhancing both operational efficiency and customer reach.
The total cost of the acquisition is INR 246.83 crores, with Core Diagnostics now becoming a wholly owned subsidiary of Metropolis Healthcare. The transaction is expected to be completed within 60 days from the signing of definitive agreements.
The strategic acquisition aligns with Metropolis Healthcare’s goal to provide high-quality diagnostic services across India while expanding into specialized segments such as cancer testing.
“We are excited to bring Core Diagnostics into the Metropolis family,” said Mr. Anil Jain, Managing Director of Metropolis Healthcare. “This acquisition not only enhances our cancer testing capabilities but also expands our presence in high-demand regions, further strengthening our leadership position in the diagnostics industry.”
The acquisition also brings Core Diagnostics’ expertise in providing high-end diagnostic services, offering Metropolis a competitive edge in the fast-growing medical diagnostics market.
