New Delhi, March 7 -- Apollo Health & Lifestyle Ltd, which operates multispecialty clinics across the country, has acquired a Lucknow-based pathology lab and diagnostic centre.
The unit of Apollo Hospitals has acquired Care Diagnostics Pvt Ltd, according to Advay Capital Advisors, which served as the sole financial advisor to the target firm and its promoters.
The financial terms of the deal couldn't be ascertained.
"The strategic acquisition by Apollo is set to enhance Care Diagnostics' capabilities and accelerate its expansion, reinforcing its position as a dominant player in Uttar Pradesh's diagnostic and pathology sector," Advay said in a statement on Friday.
Care Diagnostics was established in 2006. It operates a pathology lab and diagnostic centre in Lucknow, offering a range of medical testing services.
Apollo Health joins Metropolis Healthcare Ltd in acquiring a diagnostics firm this week. Earlier this week, Metropolis, the country's second-largest pathology chain, agreed to buy Agra-based diagnostics service provider Scientific Pathology, roughly three months after acquiring oncology focused Core Diagnostics for about Rs 247 crore.
Published by HT Digital Content Services with permission from VC Circle.