Metropolis Healthcare, a leading diagnostic chain in India, has announced its acquisition of Core Diagnostics for ₹247 crore. This strategic move will make Core Diagnostics a wholly owned subsidiary of Metropolis, significantly enhancing its advanced cancer testing capabilities and expanding its presence in northern and eastern India. By leveraging Core’s strong partnerships with oncology specialists and healthcare institutions, Metropolis aims to fortify its leadership in specialized diagnostics. The acquisition reflects a broader commitment to addressing India's growing cancer burden, with the integration set to transform healthcare services in the region.

Details of the Acquisition

Complete Stake Acquisition
Metropolis Healthcare will acquire 100% equity in Core Diagnostics from Core Diagnostics (Mauritius) Pvt Ltd. This will position Core as a wholly owned subsidiary, integrating its operations and expertise into Metropolis’ diagnostic ecosystem.

Board Approval and Strategic Alignment
The transaction has received approval from Metropolis Healthcare's board, underscoring the company’s intent to solidify its market position through strategic investments in specialized diagnostics.

Impact on Advanced Cancer Testing

Enhanced Testing Capabilities
The acquisition aims to strengthen Metropolis Healthcare’s capabilities in advanced cancer diagnostics, an area of critical need in India. Core Diagnostics’ expertise and infrastructure will enable Metropolis to offer more comprehensive solutions for oncology care.

Addressing India’s Cancer Burden
With approximately 1.4 million new cancer cases and nearly one million cancer-related deaths annually in India, the demand for advanced diagnostics has never been more urgent. This acquisition positions Metropolis to address these challenges effectively.

Geographical Expansion

Increased Presence in Northern and Eastern India
The deal will expand Metropolis Healthcare's footprint in key regions, leveraging Core Diagnostics’ strong relationships with leading cancer specialists and hospitals in northern and eastern India.

Strengthened Market Reach
Metropolis plans to utilize Core’s established networks to broaden its reach, ensuring access to high-quality diagnostic services across more cities and underserved areas.

Leadership Insights on the Acquisition

Ameera Shah’s Vision
Metropolis Healthcare Promoter and Executive Chairperson Ameera Shah highlighted the significance of the acquisition, stating, "By integrating Core's expertise with our established strengths, we aim to reinforce our leadership in advanced cancer testing and contribute to the fight against this critical disease."

Core Diagnostics’ Perspective
Dinesh Chauhan, CEO of Core Diagnostics, emphasized the synergies between the two organizations, stating, "With Metropolis' reach and expertise, we are ready to take a bigger leap, touching more lives and making a lasting difference in healthcare."

About Core Diagnostics

A Decade of Expertise
Founded in 2012, Core Diagnostics specializes in advanced cancer testing and operates in over 200 cities across India. Its robust infrastructure and expertise make it a valuable addition to Metropolis Healthcare.

Commitment to Precision Medicine
Core Diagnostics has established itself as a pioneer in precision diagnostics, offering high-quality services that align with Metropolis’ vision for healthcare innovation.

Market Performance

Investor Reaction
Metropolis Healthcare’s shares reflected positive investor sentiment, closing 2.39% higher at ₹2,187 on the Bombay Stock Exchange (BSE) following the acquisition announcement.

Market Confidence in Strategic Growth
The stock movement signals market confidence in Metropolis Healthcare’s strategic direction, with the acquisition seen as a catalyst for long-term growth in specialized diagnostics.

Conclusion: A Transformational Step in Indian Healthcare

Metropolis Healthcare’s acquisition of Core Diagnostics marks a pivotal moment in the Indian healthcare landscape. By combining Core’s specialized cancer testing capabilities with Metropolis’ extensive reach and expertise, the company is poised to lead advancements in oncology diagnostics. This deal not only addresses the critical healthcare challenges in India but also underscores Metropolis’ commitment to innovation, collaboration, and impactful growth.