New Delhi, Sept. 25 -- Dr Lal PathLabs Ltd, the country's largest diagnostics chain, acquired a controlling stake in a Gujarat-based diagnostic chain to broaden its portfolio in genomics.
The Mumbai-listed company said in an exchange filing that it agreed to acquire a 70% stake in Surat-headquartered SN Genelab Pvt Ltd for Rs 168 crore ($17.5 million in cash, along with a performance linked earn-out capped at Rs 31.5 crore.
Dr Lal PathLabs said the acquisition will strengthen its expertise in genomics and broaden its portfolio of advanced diagnostic services. The transaction will be completed by November 30.
SN Gene was incorporated in 2013, offering diagnostics and genomics services, and operates three labs in India and one in the UAE. The company provides diagnostics and genomics testing in oncology, rare diseases, reproductive health and infectious diseases.
As of FY26, the company's topline increased by 8.6% to Rs 57.96 crore, according to the stock market filing by Dr. Lal PathLabs.
This is Dr. Lal PathLabs' second such acquisition this year.
In May, Dr Lal PathLabs Ltd agreed to acquire 100% of Shahbazkers Diagnostic Centre Pvt Ltd (SDCPL) for a cash consideration not exceeding Rs 20 crore. The acquisition is aimed at bolstering Dr Lal PathLabs' presence in Mumbai and the broader Maharashtra market. The deal doesn't require any regulatory approvals.
Published by HT Digital Content Services with permission from VC Circle.