Strategic acquisition to accelerate MedGenome’s growth and geographic penetration
MedGenome has acquired NCR based Prognosis Laboratories. Wodehouse Capital was the exclusive financial advisor to Prognosis Laboratories and adds yet another transaction in the “Diagnostic” vertical of its Healthcare practice. They were assisted by Khaitan & Co., as the legal advisor to the sellers.
Prognosis Laboratories, established in 2013 is led by Dr Smita Sadwani, Dr Deepak Sadwani and Mayank Madan. A NABL accredited, ICMR approved and AERB-Certified lab, provides diagnostics, microbiology and radiology services.
Dr Sadwani believes this strategic partnership would accelerate the next phase of growth & expansion for the overall business. Madan is elated that their brand provides complimenting services which are a natural fit for MedGenome’s business. He states that “under MedGenome’s management, Prognosis will have a wider market reach and recall in an otherwise crowded segment.”
Manmohan Tiwana, Managing Director & CEO, Wodehouse Capital believes this acquisition by MedGenome is completely in line with their stated objective of democratising the access of quality and affordable genetic solutions. Prognosis’s clients will now have access to genetic testing and a wide range of industry-first genetic tests like Rhesus D, ThyroTrack, SPITal-SEQ, NIPT and many more for detection and diagnosis of complex diseases.