Manipal HealthMap, a diagnostic services provider, has acquired iGenetic Diagnostics, securing a 100 per cent stake in the company. With this acquisition, Manipal HealthMap plans to strengthen its presence in key markets, including Maharashtra, Madhya Pradesh, and Karnataka, while consolidating its pan-India reach.

This acquisition follows Manipal HealthMap’s earlier acquisition of Medcis PathLabs. Following the merger, the company plans to accelerate its expansion efforts to establish over 200 centres by 2027, further expanding into metro, tier 1, tier 2, and tier 3 cities through various business models, including public-private partnership (PPP), business-to-business (B2B), business-to-consumer (B2C), contract research organisation (CRO), and institutional clients.

“This acquisition is a step towards creating a more integrated and efficient diagnostic services network,” noted Sandeep Sharma, CEO at Manipal HealthMap. He added that this acquisition is in sync with the company’s expansion plans and looks to provide quality yet affordable pathological services pivoted in technology, quality, and faster turnaround time.

The merger has received approval from the National Company Law Tribunal (NCLT), confirmed the company in a release.

Founded in 2013, Manipal HealthMap focuses on high-end molecular diagnostics and critical care services. The company, controlled by Manipal Group and Morgan Stanley, operates in 17 states with a robust network of 55 radiology centres offering services like CT scans, MRIs, PET-CT, ultrasounds, X-rays, and ECGs. Additionally, its pathology division covers 35 locations and provides specialised testing protocols across multiple areas of diagnostics, including NGS, molecular, histopathology, cytogenetics, and microbiology.

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