Metropolis Healthcare Limited — Board Meeting, 09-12-2024: Outcome of Board Meeting

The Board of Directors has approved the acquisition of a 100% stake in Core Diagnostics Private Limited for a total consideration of ₹246.83 Cr. This will be funded partly by cash (₹135.76 Cr) and partly through a preferential issue of equity shares (up to ₹111.07 Cr), pending shareholder approval. The acquisition aims to enhance Metropolis Healthcare’s cancer testing capabilities and market presence in Northern and Eastern India, potentially driving synergies and operational efficiencies. Core Diagnostics reported a turnover of ₹110.32 Cr for FY 23-24.