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Metropolis Healthcare Ltd has acquired Core Diagnostics for ₹246.83 crore. This move will enhance its advanced cancer testing capabilities and deepen its presence in northern and eastern India. Shares closed at ₹2,187, up by 2.39%.
Metropolis Healthcare Ltd has announced the acquisition of a 100% stake in Delhi-NCR-based Core Diagnostics for ₹246.83 crore. The acquisition, financed through 55% cash and 45% equity swap, is expected to strengthen Metropolis’ capabilities in advanced cancer testing and expand its presence in northern and eastern India.
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Transaction Value: ₹246.83 crore.
Funding Split: 55% cash and 45% equity swap.
Target Completion: Within 60 days.
Revenue Impact: Core Diagnostics reported revenue of ₹110 crore in FY 2023-24.
Strategic Benefits: Enhanced cancer testing capabilities and market expansion.
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Founded in 2012, Core Diagnostics operates in over 200 cities in India and specialises in cancer diagnostics. Its NABL- and CAP-accredited labs are located in Gurugram, Hyderabad, and seven other locations. Offering over 1,300 high-end tests, Core Diagnostics primarily focuses on cancer and serves more than 6,000 speciality prescribers. The company reported a robust 22% revenue CAGR over the past three years.
Metric | Value |
Founded | 2012 |
Presence | 200 cities |
Accreditations | NABL, CAP |
FY 2023-24 Revenue | ₹110 crore |
Tests Offered | 1,300+ |
Specialist Prescribers | 6,000+ |
Cancer Specialists Served | 1,600+ |
The acquisition positions Metropolis to capitalise on the growing oncology market, which is projected to expand at a 17.5% CAGR between 2023 and 2028. Shares of Metropolis Healthcare Ltd gained 2.39%, closing at ₹2,187 on the BSE. The deal is expected to boost market share and revenue growth in the specialised diagnostics sector.
Metropolis Healthcare Ltd’s acquisition of Core Diagnostics is a strategic step to solidify its position in advanced cancer testing and expand its national footprint. With synergies expected to deliver long-term growth, this acquisition aligns with the company’s vision of strengthening its diagnostics capabilities.
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