Metropolis Healthcare’s Acquisition of 100% Stake in Core Diagnostics

Metropolis Healthcare announced the acquisition of Delhi-based Core Diagnostics, aiming to enhance its capabilities in advanced cancer testing. This acquisition will also strengthen its presence in Northern and Eastern India, driving market share expansion in the specialised segment.

Metropolis Expands Cancer Testing Reach

Ameera Shah-led Metropolis Healthcare Limited, India’s second-largest pathology lab chain, has announced the acquisition of Core Diagnostics, a leading player in the country’s specialised diagnostics sector.

The deal, valued at ₹246.8 crore, includes a combination of cash and stock, with 55% of the payment in cash and 45% through an equity swap. Core Diagnostics recorded ₹110 crores in revenue for FY 2023-24, with a strong presence across 200 cities in India.

The acquisition will deepen Metropolis’ expertise in advanced cancer testing, significantly expanding its reach in Northern and Eastern India, while providing enhanced connections with top cancer specialists and hospitals in these regions.

Core Diagnostics offers over 1,300 high-end tests with a primary focus on oncology and serves more than 6,000 specialty prescribers, including over 1,600 prominent cancer specialists.

About Core Diagnostics

Core Diagnostics operates in 200 cities in India, with a NABL- and CAP-accredited laboratory in Gurugram, backed by a regional reference lab in Hyderabad and seven satellite labs across India. Core Diagnostics offers over 1,300 high-end tests, with a primary focus on cancer, serving more than 6,000 specialty prescribers, including 1,600+ top cancer specialists.

Metropolis Healthcare Share Price Performance

On December 10, 2024, Metropolis Healthcare’s share price was trading 0.47% higher at ₹2,200.75 at 12:30 PM on the NSE. The stock opened at ₹2,232.55 higher than its previous close of ₹2190.45.

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