Neuberg Diagnostics Merges with a couple of Entities to Strengthen Position in Healthcare Sector

Chennai-based Neuberg Diagnostics has merged with two institutes- Neuberg Supratech Reference Laboratory, Ahmedabad, and Neuberg Anand Reference Laboratory, Bengaluru. 

The strategic objective of this merger is to streamline operations and enhance efficiency, incorporating over 80% of the total group revenue.

Commenting about the merger and its implications, Dr. GSK Velu, chairman and MD of Neuberg Diagnostics, said, "This merger signifies a significant step in our journey to provide unparalleled healthcare solutions. By integrating these renowned laboratories, we reinforce our commitment to delivering excellence in diagnostics and patient care".

In light of this consolidation, Neuberg Diagnostics aims to achieve its target of achieving gross revenues exceeding  INR 1,000 Cr (US $120+ Mn) in the current fiscal year. 

Further, this merger enables the company to expand its range of diagnostic services across India and beyond.

Founded in 2017, Neuberg Diagnostics, runs Neuberg Centre for Genomics Medicine (NCGM) and Neuberg Centre for Proteomics & Metabolomics (NCPM). 

These centres position Neuberg at the forefront of personalised medicine innovation, particularly NCGM, which, the institute claims to have made significant strides in the genomic medicine market across South Asia, the Middle East, and Africa.

Following the merger, changes were made to Neuberg Diagnostics' senior management team as well. For example, Dr Sandip Shah was promoted to joint managing director, while Dr Sujay Prasad was promoted to chief medical director. Likewise, A. Ganesan will continue as vice chairman of Neuberg Diagnostics. 

Looking ahead, Neuberg Diagnostics plans to undertake an Initial Public Offering (IPO) in late 2024 or early 2025. This move aligns with the company's growth strategy and is expected to attract additional resources for operational expansion, thereby preserving its leadership position in diagnostic innovation.