Introduction:
India’s second-largest pathology lab chain has announced the acquisition of a leading specialized diagnostics player, enhancing its capabilities in advanced cancer testing and expanding its presence in Northern and Eastern India to strengthen market share.
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Share price movement of Metropolis Healthcare:
On December 10, 2024, Metropolis Healthcare Ltd opened at ₹2,230.75, up 1.99% from its previous close of ₹2,187.00. The stock reached a high of ₹2,250.00 and a low of ₹2,183.95. By 11:21 AM, it traded at ₹2,196.50, a 0.43% increase, with a market cap of ₹11,260.87 crore.
Metropolis acquires Core Diagnostics:
Metropolis Healthcare, India’s 2nd-largest pathology lab chain, has announced the acquisition of Core Diagnostics, a leading player in specialized diagnostics. This acquisition strengthens Metropolis’ presence in advanced cancer testing, particularly in Northern and Eastern India.
The deal, valued at INR 246.8 crores, will be financed with 55% cash and 45% equity swap. Core Diagnostics, which recorded INR 110 crores in revenue for FY 2023-24, operates across 200 cities with an NABL- and CAP-accredited lab in Gurugram, offering over 1,300 tests.
Core Diagnostics, founded in 2012, has achieved a 22% revenue CAGR over the past 3 years and serves over 6,000 specialty prescribers. Metropolis aims to complete the acquisition in 60 days, subject to shareholder approval, enhancing its market share in the specialized diagnostics sector.
Recent news on Metropolis Healthcare:
As of November 10, 2024, Metropolis Healthcare announced the acquisition of Core Diagnostics, enhancing its capabilities in cancer testing. The deal strengthens its presence in Northern and Eastern India, driving growth in specialized diagnostics.
Stock performance of Metropolis Healthcare for Period of 1 week, 6 months and 1 year:
In the past week, Metropolis Healthcare Ltd’s stock has risen by 5.50%. Over the last six months, it has gained 10.1%, while in the past year, the stock has delivered a strong 33.1% return, showcasing impressive growth.
Shareholding pattern of Metropolis Healthcare:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 49.40% | 49.60% | 49.70% |
| FII | 18.60% | 18.30% | 18.90% |
| DII | 28.00% | 27.40% | 24.90% |
| Public | 4% | 4.70% | 6.60% |
About Metropolis Healthcare:
Metropolis Healthcare Limited (NSE: METROPOLIS) is a leading Indian diagnostics company, operating a chain of diagnostic centers across India, South Asia, Africa, and the Middle East. It is India’s second-largest diagnostic player, dominating Western and Southern India.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
