Redcliffe Labs Strengthens Imaging Portfolio Through Megavision Diagnostics Acquisition
Advertisement
The acquisition aligns with its strategy of building imaging capabilities through acquisitions rather than setting up new centres. The company aims to leverage Megavision's existing infrastructure to strengthen its radiology business.
Noida-based Redcliffe Labs is set to acquire Pune-based Megavision Diagnostics Centre in a transaction valued at around Rs 40 crore as part of its expansion into integrated diagnostics and radiology. The acquisition is expected to be completed later this month, and the company will retain Megavision's entire workforce.
Founded in 1996, Megavision Diagnostics Centre operates two diagnostic centres in Pune's Pimpri and Nigdi areas, offering services including MRI, CT scans, ECG, EEG, sonography and mammography. According to Redcliffe Labs, the diagnostics chain generates annual revenue of around INR 20 crore.
The acquisition will help the company expand beyond pathology into integrated diagnostics by adding advanced imaging services to its portfolio, as per the Inc42 report.
"Earlier, we were only offering pathology services. With this acquisition, we can now offer integrated diagnostics through two centres in Pimpri-Chinchwad that house MRI facilities. Having been built over the last three decades, these centres bring not just infrastructure but also strong market credibility," Kandoi said.
Redcliffe Labs said the acquisition aligns with its strategy of building imaging capabilities through acquisitions rather than setting up new centres. The company aims to leverage Megavision's existing infrastructure to strengthen its radiology business.
The Megavision acquisition follows Redcliffe Labs' recent acquisitions of Prime Sonography and Diagnostic Center in Kota and Sarvodaya Diagnostics in Ajmer, valued at around Rs 5 crore and Rs 10 crore, respectively. Both acquisitions were aimed at expanding the company's radiology footprint in Rajasthan.
Commenting on the company's long-term strategy, Co-founder and Chairman Dheeraj Jain said, "As we look ahead, our ambition is to build an integrated diagnostics ecosystem that delivers even greater value to patients. Strategic acquisitions will be a key catalyst on this journey, strengthening our capabilities, expanding our geographic footprint, and accelerating our presence in radiology while reinforcing our leadership in pathology."
Founded in 2018 by Aditya Kandoi and Dheeraj Jain, Redcliffe Labs operates an omnichannel diagnostics platform offering more than 3,600 pathology tests, along with genetic and DNA-based screening services. The company has raised $115 million to date from investors including LeapFrog Investments, HealthQuad, LC Nueva Investment Partners, Alkemi Venture Partners and Chiratae Ventures.
For FY27, Redcliffe Labs is targeting revenue of around Rs 700 crore, representing nearly 50% year-on-year growth, driven by both organic expansion and acquisitions.
Stay tuned for more such updates on Digital Health News
