Metropolis Healthcare Acquires Dr. Ashok Kumar Sharma's Scientific Pathology for INR 55-83 Crores

Metropolis Healthcare Ltd, a leading diagnostic sector company, has entered into a Business Transfer Agreement (BTA) with Dr. Ashok Kumar Sharma, sole proprietor of 'Dr. Ashok Kumar Sharma’s Scientific Pathology', for the acquisition of its laboratories and collection centers in Agra and neighboring towns on a slump sale basis. The turnover of Scientific Pathology for the FY 2023-24 was INR 26.04 crores. The acquisition will enable Metropolis to capitalize on Uttar Pradesh's rapidly expanding diagnostic market, enhance its diagnostic network, improve access to advanced healthcare, and introduce a comprehensive test portfolio. The transaction is expected to be completed within 45 days from the date of signing of BTA, with a cash consideration and an acquisition cost ranging from INR 55 to 83 crores. Dr. Ashok Kumar Sharma will subscribe to the OCDs and Equity Shares of Metropolis Clinical Pathology to the extent that his holdings will represent up to 10% of the securities of Metropolis Clinical Pathology, on a fully diluted basis.