HBI Deals+Insights / News
India’s diagnostic market was around $8.66 billion in FY21, with the pathology sector accounting for ~60%. It is projected to grow to $25 billion by FY28, driven by attractive margins and growth potential. The sector has also seen considerable deal activity, including fundraising and mergers and acquisitions. In the latest acquisition, Mumbai-based Thyrocare, a fully automated diagnostic laboratory, has entered into a Business Transfer Agreement with Polo Labs, a Punjab-based pathology diagnostic company, to acquire their pathology diagnostic business.