Manipal HealthMap, an integrated diagnostics service provider, has completed the acquisition of a 100 per cent stake in Mumbai-based iGenetic Diagnostics, further consolidating its position in the Indian diagnostics market.
In a press statement on Tuesday, the company informed that the acquisition, which received approval from the National Company Law Tribunal (NCLT), marks a significant step in the ongoing consolidation of India's USD15 billion diagnostics industry.
This strategic merger will boost Manipal HealthMap's footprint in crucial regions such as Maharashtra, Madhya Pradesh, and Karnataka, while enabling the company to expand its pan-India operations under the Manipal TRUtest brand. The integration aims to offer advanced and affordable diagnostic services across the country, positioning Manipal HealthMap as a key player in the diagnostics sector.
iGenetic Diagnostics, known for its focus on molecular diagnostics and critical care services, complements Manipal HealthMap’s portfolio with expertise in specialised testing areas such as oncology, infections, and fertility.
“We are thrilled to welcome iGenetic Diagnostics into the Manipal HealthMap family,” said Dr. (Capt.) Sandeep Sharma, CEO at Manipal HealthMap. “This acquisition aligns with our vision of creating an integrated diagnostics network, providing high-quality, technology-driven services to patients across multiple states.”
Following this acquisition, Manipal HealthMap aims to establish over 200 centres by 2027, focusing on expansion into Metro, Tier 1, Tier 2, and Tier 3 cities. With both greenfield and brownfield growth strategies, the company is set to expand through various models, including Public-Private Partnerships (PPP), B2B, B2C, and institutional collaborations.
Manipal HealthMap currently operates in 17 states, offering services through 55 radiology centres and 35 pathology centres, covering advanced testing areas like NGS, Molecular, and Histopathology.
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