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Metropolis Healthcare Acquires Core Diagnostics for ₹246.83 Crore

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Synopsis:

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 news today

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.

Also read: Syngene International Block Deal: Biocon to Sell 2% Stake at ₹825 per Share

METROPOLIS HEALTHCARE LTD

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2220.8530.40 (1.38 %)

Updated - 10 December 2024
2249.50day high
DAY HIGH
2174.60day low
DAY LOW
900881
VOLUME (BSE)

Key Takeaways

  • 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.

Also read: Vodafone Idea to Issue Shares Worth ₹1,980 Crore at 39% Premium

Overview Of Core Diagnostics

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.

Core Diagnostics At A Glance

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+

Market Impact And Synergies

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.

Also read: Tata Motors To Increase Passenger Vehicle Prices By Up To 3% From January

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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