Manipal HealthMap, the diagnostics arm of Manipal Group, on Tuesday said it has fully acquired Mumbai-based iGenetic Diagnostics for an undisclosed amount. With the acquisition, the company is set to strengthen its presence in key markets, including Maharashtra, Madhya Pradesh, and Karnataka, while expanding its pan-India reach.
“This is a strategic step toward creating a more integrated and efficient diagnostic services network, offering cutting-edge solutions to patients across India,” Manipal HealthMap CEO Sandeep Sharma said in a statement.
iGenetic Diagnostics, established in 2013, is recognised for its focus on high-end molecular diagnostics and critical care services.
The company said it plans to accelerate its expansion efforts to establish over 200 centres by 2027, solidifying its leadership in the integrated diagnostics sector.
As per industry estimates, India’s diagnostics sector, valued at USD 15 billion, is experiencing rapid growth, yet remains fragmented with over 1 lakh laboratories across the country.
Source: Economic Times