Metropolis acquires Gribbles Pathnet

Diagnostics chain Metropolis Health Services (MHS) today aqcuired Delhi-based Gribbles Pathnet India for an undisclosed sum, and announced expansion plans for domestic and international markets.

"The acquisition is part of our strategy to expand and become a leader in radiology and diagnostics in the northern market in another six months. Post-acquisition, Pathnet will be merged with Diwanchand Metropolis," G S K Velu, managing director of MHS, said.

Although the financial details of the acquisition were not disclosed, David Thompson, managing director of Pathnet, said the company had net assets worth Rs 15 crore, and touched a turnover of Rs 6 crore last year.

Velu said Metropolis was on an expansion mode for which it has earmarked about Rs 50-60 crore. "We are in talks for aqcuiring laboratories in Hyderabad, Kolkata, Pune and Coimbatore," he added.

Metropolis is also expanding network to emerging international markets, particularly Sri Lanka, the Middle East and Seychelles.

Sushil Shah, chairman of MHS, said: "We are setting up a full network in Sri Lanka centred around Naulaka Hospital in Colombo."

He said the company will have about 15-20 collection centres in the island nation.

Shah also said the company is setting up a full-fledged clinical trials centre at Bangalore's M S Ramaiya Hospital that would be equipped for phase I, II and III clinical trials, bioequivalance and toxicological studies of new drugs.