Fortis Healthcare arm SRL Diagnostics buys Lifeline Laboratory
This deal is likely to increase SRL's footprint in Delhi and aid in increasing its presence in regions like Mumbai, Uttar Pradesh, Andhra Pradesh, and Telangana which are all key markets for the firm.
SRL Diagnostics, a subsidiary of Mumbai-listed hospital chain , has acquired Lifeline Laboratory to expand its reach in the Indian pathology market.
The acquisition of Delhi-based Lifeline is expected to accelerate SRL's growth and expand its geographic reach, SRL said in a statement as per media reports.
“Lifeline will benefit tremendously from SRL’s industry-leading distribution network and operational efficiencies while SRL gets an incredible NCR-focused brand that stands for quality and service," said Manmohan Tiwana, Managing Director and CEO, Wodehouse Capital.
This deal is likely to increase SRL's footprint in Delhi and aid in increasing its presence in regions like Mumbai, Uttar Pradesh, Andhra Pradesh, and Telangana which are all key markets for the firm, reports suggest.
"I am confident that Lifeline shall have a wider market reach and recall in an otherwise crowded segment," said Angeli Misra, Partner, Lifeline Laboratory.
SRL has over 400 labs and over 9,000 collection centres. It offers 3,500 different tests in pathology, radiology, wellness, occupational health, and clinical trials and conducts more than 100,000 tests a day, it said.
Edited by Akanksha Sarma