MedGenome Labs, a leading genetic diagnostics and research company in South Asia, has acquired Trident Diagnostics and Healthcare Pvt Ltd, a diagnostics and radiology healthcare centre based in Bengaluru to provide integrated tests menu to clinicians, patients and consumers across Karnataka.
This acquisition will help expand the access to these tests to consumers in Tier II and III markets.
Earlier this year, MedGenome Labs also ventured into the direct-to-consumer (DTC) category under the brand name Genessense, offering specialized and evidence-based genetic screening tests that provide insights into a person’s health much before the onset of symptoms.
Speaking on the acquisition, Dr Ramprasad, CEO, Diagnostics, MedGenome Labs said, “At a time when coronavirus has turned the world’s attention towards genome sequencing and its role in timely prevention of infectious diseases, we are taking another step forward to convey the importance of genomics and personalized medicine in healthcare to larger population.
Kirandev Hiremath, Co-founder and Managing Director, Trident Diagnostics said, “It is indeed a big win for healthcare. With this acquisition, we will be working closely with MedGenome Labs, an established leader in the genetic diagnostic space. This will not only give us access to world-class technology but also assist us in research and development for creating faster, effective and accurate tests results that will contribute to providing better diagnosis with comprehensive test menu.”
In addition to all of the above capabilities, MedGenome will also work closely with the government and PSUs to bolster the nation’s needs in building better health systems.
“At a time when healthcare is the current backbone of any nation, this acquisition will also help India reach the pinnacle of diagnostics and tests in the future,” said Prof. Kshama Hiremath, Co-Founder and CEO, Trident Diagnostics.
Trident team was advised by a Bengaluru based transaction advisory firm Smark Capital.
Trident Diagnostics and Healthcare Pvt Ltd, established in 2015 is a NABL and NABH accredited lab based in Bengaluru providing diagnostics and radiology services. The Company has a test catalogue of 500+ tests mainly on B2B, B2C basis. B2B customer base includes Government projects, ESIC, independent labs, hospitals and other individual practicians.
Source: Financial Express