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Thyrocare Technologies Limited, a leading healthcare diagnostics company, announced today that it has entered into a Business Transfer Agreement to acquire the diagnostic and pathological services business of Vimta Labs Limited. The all-cash deal, valued at ₹7 crore, is subject to customary conditions precedent.
The shares of Thyrocare Technologies Limited were trading at ₹859.30, down by ₹5.30 or 0.61 per cent on the NSE today at 11.50 am.
The acquisition will give Thyrocare access to 11 diagnostic centers across Telangana, Andhra Pradesh, Uttar Pradesh, and Odisha, including a NABL-accredited central processing laboratory in Hyderabad. Vimta Labs’ diagnostic business reported revenues of ₹30 crore in FY 2024 and ₹7 crore in Q1 FY 2025.
Rahul Guha, MD & CEO of Thyrocare, stated, “This strategic move aligns with our growth objectives, allowing Thyrocare to expand its market share, solidify our leadership position in South India, and grow our business with franchisees and hospitals. Additionally, this expansion will enable Thyrocare to leverage the benefits of scale.”
Harita Vasireddi, MD of Vimta Labs, said, “I believe this is a mutually beneficial transaction for both Vimta and Thyrocare. Vimta is a leader in contract research and testing and this divestment will be a strong strategic step forward for the company in bringing greater focus on its core businesses and further enhance its operating efficiencies. Both companies share a strong commitment to quality and exceptional customer service and therefore synergies between both brands can support expansion of diagnostics business for Thyrocare.”
The transaction is expected to enhance Thyrocare’s presence in southern India and broaden its customer base.”
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