Vijaya Diagnostic To Buy PH Diagnostic For Rs 134.65 Crore

India Pharma Outlook Team | Wednesday, 20 December 2023

 India Pharma Outlook Team

Vijaya Diagnostic Centre Ltd announced that it will totally purchase Pune-based PH Diagnostic Centre Pvt Ltd for Rs 134.65 crore in cash. The board of directors of Vijaya Diagnostic Centre met and considered and approved the terms and conditions of the share purchase agreement between the company, PH Diagnostic Centre (PH), and its promoters/shareholders for the acquisition of a 100% stake.

The cost of acquisition of 100 per cent shares from the existing shareholders of PH is Rs 134.65 crore, it said. Additionally, Rs 12.85 crore will be infused into it by way of either equity or loan to pay existing debt, it added, as per economic times.

After the acquisition is completed, PH will become a wholly-owned subsidiary of the corporation. With 23 years of experience, PH is Pune's largest integrated diagnostic center. According to the filing, it has three 'hub centres' equipped with advanced radiology such as MRI/CT, three'spoke centres' equipped with basic radiology services like as ECG, X-ray, and ultrasound, and a few collection and franchise centers.

"The acquisition is in line with the company's objective to build a comprehensive diagnostic chain of network across different geographies and thereby increasing the market share and penetration," Vijaya Diagnostic Centre said.

It further stated that the strategic acquisition will assist the company in swiftly expanding and growing at a faster rate in Pune, Maharashtra.

The company has 125 cutting-edge diagnostic centers in 20 Indian cities. All of the diagnostic centers that bear our logo have NABL-certified diagnostic labs. Each diagnostic center is overseen by the greatest certified, trained, and experienced experts in India. We have an in-house workforce of over 2200 professionals.

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