SRL Diagnostics aquires lifeline laboratory
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India’s largest pathology chain SRL completes the acquisition of NCR’s highly reputed Lifeline Laboratory. This strategic partnership will accelerate the next phase of growth for the business.
Wodehouse Capital was the exclusive financial advisor to Lifeline Laboratory and adds yet another transaction in the “Diagnostic & Pathology” vertical of its Healthcare practice. They were assisted by Khaitan & Co., as the legal advisor to the sellers.
SRL Diagnostics is India’s largest pathology chain with an annual revenue exceeding INR 1,600 crores. Headquartered in Gurgaon, it has over 400 labs and over 9,000 collections centres. It offers more than 3,500 different tests in pathology, radiology, wellness, occupational health, clinical trials and conducts more than 100,000 tests in a day.
Lifeline Laboratory, led by Dr. Angeli Misra and Dr. Asha Bhatnagar is one of NCR’s oldest and most respected pathology laboratories. It offers an entire range of pathology tests and services including FISH, Karyotyping, Molecular Oncology, Immunofluorescence, Immunohistochemistry, Infectious molecular testing including multiplex PCR and Frozen
Section using latest technology. Dr. Angeli Misra, Partner, Lifeline Laboratory believes this strategic partnership would accelerate the next phase of growth for the overall business. Dr. Angeli Misra, Partner, Lifeline Laboratory is delighted that their brand provides immense synergies and is a natural fit for SRL’s extensive network. She states that “Under SRL’s management, I am confident that Lifeline shall have a wider market reach and recall in an otherwise crowded segment.”
Manmohan Tiwana, Managing Director & CEO - Wodehouse Capital believes this acquisition by SRL sets up Lifeline for its next stage of growth. He shares “Lifeline will benefit tremendously from SRL’s industry leading distribution network and operational efficiencies while SRL gets an incredible NCR focused brand that stands for quality and service. At Wodehouse, we always focus on ensuring that the partnership is a good fit and augurs well for the partners in the long term. We are confident that the SRL – Lifeline transaction will be a huge win-win.”
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