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CompaniesJessica Jani
3 min
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03 Mar 2025, 11:10 PM
ISTAmeera Shah, promoter and executive chairperson of Metropolis Healthcare.Summary
Scientific Pathology, which has three labs and 11 collection centres, is a market leader in Agra. The company said in a release that the acquisition will make Metropolis the second-largest organised player in Western Uttar Pradesh.
India’s second-largest pathology lab chain, Metropolis Healthcare, is strengthening its foothold in North India with another acquisition. The diagnostics player announced Monday that its wholly-owned subsidiary, Metropolis Clinical Pathology Pvt. Ltd will acquire Agra-based Scientific Pathology through a business transfer agreement.
Scientific Pathology, which has three labs and 11 collection centres, is a market leader in Agra. The company said in a release that the acquisition will make Metropolis the second-largest organised player in Western Uttar Pradesh.
“Just last year, we actually set about opening eight labs in UP, and 80 collection centres as a launch into UP, and this Agra acquisition will be a very important piece of it because it allows us to acquire a good quality business in Agra, grow that business and then use that Agra base to grow across the region,” Ameera Shah, promoter and executive chairperson of Metropolis Healthcare, told Mint.
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The firm plans to leverage the lab’s strong local brand to establish a presence in the market and scale it up.
“While we will add another 10-15 centres in Agra, the idea will be to go outside Agra as well into all the smaller markets and across Western UP,” Shah said.
The acquisition will take place through a Business Transfer Agreement (BTA). The company said in a regulatory filing that the transaction is expected to be completed within 45 days from the date the BTA is signed.
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The consideration for the acquisition will range between ₹55 crore and ₹83 crore, determined at 12.2x of the adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) over a defined assessment period.North India focusThis comes months after Metropolis announced its acquisition of Delhi-NCR-headquartered Core Diagnostics, a prominent player in India’s specialised diagnostics sector, for ₹246.8 crore. Both acquisitions align with Metropolis’ focus on growing its presence in North India.
The company continues to assess further inorganic opportunities in North India. “The overall goal is to build a string of pearls across North India by partnering with very interesting, ethical, good quality assets and integrating them well to create a much stronger presence,” Shah said.
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