Redcliffe Labs on Friday announced that it has acquired Medicentre Sonography & Clinical Lab, an independent diagnostic lab chain across Southern Rajasthan offering an integrated diagnostic test menu across pathology and radiology.
Launched in 2007, Medicentre Sonography and Clinical Lab, led by Dr Manish and Dr Mayanka in Udaipur, is one of the largest independent diagnostic labs in Rajasthan, having 10 labs and an extensive network of 40 collection centers across the southern Rajasthan region.
“Medicentre marks Redcliffe’s first significant acquisition as it expands its presence across India. The valuation details of the transaction were not disclosed; however, the payout structure was a mix of cash and equity,” the diagnostics company stated on Friday.
Redcliffe plans to retain and leverage the premium brand positioning and brand-recall of Medicentre in the region and expand its operations to become the largest integrated lab chain in Rajasthan, it added.
“Medicentre sits perfectly with our vision and strategy of building a sustainable business offering a one-stop diagnostic services with a very wide selection of tests (pathology and radiology) and delivering care closer to the customer, especially for patients living in tier-2 to 4 cities of India. In addition to accelerating our growth trajectory, this acquisition also benefits us with onboarding the right set of partners in the form of Dr. Manish Seth and Dr. Mayanka Seth, who with over 25 years of experience has built an amazing diagnostic business in the last 15 years, making Medicentre one of the largest labs and brands in southern Rajasthan,” Dheeraj Jain founder of Redcliffe said in a statement.