Super Religare Laboratories Acquires Piramal Diagnostic Services in $129 million deal
Pathology and clinical laboratory testing in India is poised to undergo ongoing consolidation as the pace of merger & acquisition activity increases. One sign of this trend is last month’s acquisition of the pathology business of Piramal Healthcare Limited by Super Religare Laboratories Limited (SRL).
In a deal valued at US$129 million, Super Religare Laboratories purchased Piramal’s pathology and radiology diagnostic services subsidiary, called Piramal Diagnostic Services Private Limited. Announced on July 14, 2010, Super Religare Laboratories said this acquisition will give it one of India’s largest pathology and clinical laboratory testing networks.
After combining the two businesses, Super Religare will operate 185 laboratories. It will have 1,500 patient collection centers that serve 12 million patients per year. Further acquisitions are planned by SRL.