Serum Institute, Trivitron Near Deal to Scale MyLab’s Global Diagnostics Play

The proposed joint venture, MyLab Trivitron Next Gen Technologies, has been set up as part of the restructuring process, and the partnership is expected to capitalize on Trivitron’s established global footprint and manufacturing capabilities.

Adar Poonawalla-led Serum Institute of India is in advanced discussions with Trivitron Healthcare to expand its investment in MyLab Discovery Solutions and take the Pune-based diagnostics firm into international markets through a new joint venture.

Founded in 2016, MyLab Discovery Solutions, a Pune-based biotech startup, gained prominence during the COVID-19 pandemic for developing India’s first indigenous RT-PCR test kits.

The proposed joint venture, MyLab Trivitron Next Gen Technologies, has been set up as part of the restructuring process. The entity is designed to separate existing liabilities and create a cleaner platform for fresh investment and expansion.

MyLab founder Hasmukh Rawal highlighted the strategic rationale behind the move, stating, “We are structuring the JV with Trivitron for better International opportunities in distribution and manufacturing with their global reach and presence, with a focus on high-end technologies of MyLab.”

The partnership is expected to capitalize on Trivitron’s established global footprint and manufacturing capabilities.

Headquartered in Chennai, Trivitron has built a diversified portfolio spanning imaging systems, in-vitro diagnostics, ICU equipment, and neonatal care solutions. With operations across regions including the US, Europe, and Asia, the company brings both distribution reach and operational expertise to the table.

The Serum Institute group already holds a significant stake in MyLab, with additional exposure through promoter-linked entities. The potential expansion aligns with its broader strategy of diversifying beyond vaccines into diagnostics and digital health ecosystems.

Moreover, the proposed deal positions MyLab to compete more effectively in international markets by combining innovation in molecular diagnostics with scalable manufacturing and distribution infrastructure.

The transaction is currently in advanced stages of due diligence, and while final terms are yet to be disclosed, a formal agreement is expected soon.

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