Metropolis Healthcare Limited — Updates, 09-12-2024: Press Release

Metropolis Healthcare Limited has acquired Core Diagnostics, solidifying its position as India’s leading cancer testing company. The acquisition involves a 100% stake in Core Diagnostics, financed with 55% cash and 45% through equity, totaling ₹246.8 crores. Core Diagnostics, headquartered in Delhi NCR, excels in specialized diagnostics with a revenue of ₹110 crores for FY 2023-24 and operates over 1,300 advanced tests. This strategic move enhances Metropolis' capabilities in advanced cancer testing, especially in the Northern and Eastern regions of India, increasing market share and fostering connections with leading cancer specialists.

The acquisition aligns with the growing demand for oncology services, projected to expand at a CAGR of 17.5% through 2028. Integration of Core’s expertise with Metropolis’ established strengths aims to establish a Centre of Excellence in Cancer Diagnostics, potentially unlocking significant synergies. The completion of the acquisition is anticipated within 60 days, pending shareholder approval, which positions Metropolis strategically for future growth in the rapidly evolving healthcare landscape. Investors should watch closely as this move may drive substantial long-term value and growth opportunities.