Metropolis Healthcare's Hitech Diagnostics Acquisition To Boost South India Presence: ICICI Securities
Metropolis Healthcare laboratory. (Photo: Metropolis Healthcare website)

Metropolis Healthcare's Hitech Diagnostics Acquisition To Boost South India Presence: ICICI Securities

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ICICI Securities Report

Metropolis Healthcare Ltd. has announced its acquisition of 100% stake in Dr. SP Ganesan’s Hitech Diagnostic Centre (Hitech) in a cash+stock deal.

Hitech is a leading player in South India (primarily Chennai and Bengaluru) with a network of 31 labs and 68 collection centers.

This acquisition will help Metropolis in strengthening presence in South India, improving B2C contribution as Hitech has higher B2C proportion in revenue and in driving potential cost synergies in coming years.

Metropolis will pay a cash consideration of Rs 5.1 billion and will also issue 4,95,000 equity shares for 100% ownership.

Click on the attachment to read the full report:

ICICI Securities Metropolis Healthcare Update January 2021.pdf

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