Manipal HealthMap Acquires Mumbai’s iGenetic Diagnostics

Manipal HealthMap aims to establish over 200 diagnostic centers by 2027, solidifying its leadership position in the integrated diagnostics sector.

Manipal HealthMap has acquired 100% stake in iGenetic Diagnostics, a specialized diagnostics chain based in Mumbai.

The merger has received approval from the National Company Law Tribunal (NCLT), marking a significant milestone in India's diagnostics sector consolidation.

This acquisition will enhance Manipal HealthMap's presence in key markets, including Maharashtra, Madhya Pradesh, and Karnataka while expanding its national reach.

The merger supports Manipal HealthMap's goal of establishing an integrated diagnostics network that delivers high-quality, technologically advanced services to patients across India.

All operations are conducted under the Manipal TRUtest brand, ensuring a cohesive approach to providing diagnostic services.

Founded in 2013, iGenetic Diagnostics specializes in high-end molecular diagnostics and critical care services. Its expertise will complement Manipal HealthMap's portfolio, particularly in specialized testing areas such as oncology, infections, and fertility.

Sharing thoughts, Dr (Capt.) Sandeep Sharma, CEO of Manipal HealthMap, said, “We are thrilled to welcome iGenetic Diagnostics into the Manipal HealthMap family. This acquisition is a strategic step toward creating a more integrated and efficient diagnostic services network, offering cutting-edge solutions to patients across India. It aligns with our commitment to providing high-quality, affordable pathological services powered by technology and fast turnaround times.”

Following the merger, Manipal HealthMap aims to establish over 200 diagnostic centers by 2027, solidifying its leadership position in the integrated diagnostics sector.

The company plans to expand into metro, Tier-I, Tier-II, and Tier-III cities through various business models, including public-private partnerships (PPP), business-to-business (B2B), business-to-consumer (B2C), contract research organizations (CRO), and institutional clients.

Currently, Manipal HealthMap operates in 17 states with a network of 55 radiology centers offering services such as CT scans, MRIs, PET-CT, ultrasounds, X-rays, and ECGs.

Its pathology division spans 35 locations, providing specialized testing in areas including next-generation sequencing (NGS), molecular diagnostics, histopathology, cytogenetics, and microbiology.

This acquisition follows Manipal HealthMap’s previous purchase of Medcis Path Labs, enhancing its market penetration and establishing a comprehensive diagnostic platform.

India’s diagnostics sector, valued at $15 billion, is experiencing rapid growth yet remains fragmented, with over 100,000 laboratories operating nationwide.

As private equity investment continues to flow into the sector, consolidation trends are likely to shape its future, with integrated service providers like Manipal HealthMap leading the way.

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