Press Release30 Aug 2024, 05:26 pm
Thyrocare to Acquire Diagnostic and Pathological Services Business of Vimta Labs for INR 37 Crores
AI Summary
Thyrocare Technologies Limited has signed a Business Transfer Agreement with Vimta Labs Limited for the acquisition of its diagnostic and pathological services business on a slump sale basis. Vimta Labs' diagnostic and pathological services business recorded a revenue of INR 30 Crores during FY 2024 and INR 7 Crores in Q1 FY 2025. The transaction is subject to customary conditions precedent and aims to strengthen Thyrocare's presence in Southern India and expand its customer base.
Key Highlights
- Thyrocare has signed a Business Transfer Agreement for purchase of the diagnostic and pathological services business of Vimta Labs.
- Vimta Labs' diagnostic and pathological services business has recorded a revenue of INR 30 Crores during FY 2024 and INR 7 Crores in Q1 FY 2025.
- The transaction is subject to customary conditions precedent.
- Thyrocare aims to leverage Vimta Labs' established brand identity and customer loyalty in Telangana region.
- Thyrocare will have access to 11 centers of Vimta Labs in Telangana, Andhra Pradesh, Uttar Pradesh, and Odisha.