Metropolis Healthcare announced that its wholly owned subsidiary, Metropolis Clinical Pathology, will acquire Agra-based Scientific Pathology through a Business Transfer Agreement (BTA). Scientific Pathology was founded by Dr Ashok Kumar Sharma. The acquisition aims to expand Metropolis’ presence in Western Uttar Pradesh and accelerate its B2C operations.
Under the agreement, Metropolis Clinical Pathology will acquire and operate all laboratories and collection centres of Scientific Pathology in Agra and neighbouring towns through a slump sale transaction. The consideration for the acquisition will range between INR 55 crore and INR 83 crore, determined at 12.2x of the adjusted EBITDA over a defined assessment period. The transaction will be executed through a Securities Subscription Cum Shareholders’ Agreement (SHA), backed by Metropolis Healthcare Limited. Upon completion, Metropolis Clinical Pathology will transition from a wholly owned subsidiary while remaining part of the Metropolis Healthcare Group.
Scientific Pathology, established in 1984, operates three laboratories and eleven collection centres, including two NABL-accredited labs. It has a strong B2C presence, with 90 per cent of its revenue generated from walk-in patients. In FY24, the company reported a turnover of INR 26 crore. It has a digital presence with over 50,000 app downloads and 35,000 social media followers.
Ameera Shah, Promoter and Executive Chairperson of Metropolis Healthcare Limited, said, “Metropolis has successfully executed over 20 strategic acquisitions, integrating leading B2C labs in key cities and transforming them into strong regional hubs for expansion. This approach has helped establish trusted consumer healthcare brands across multiple micro-markets in India. Scientific Pathology’s strong B2C focus and 40-year legacy align seamlessly with our vision to lead in these markets. Dr Ashok Kumar Sharma has built Scientific Pathology on the foundations of quality and service excellence—values that deeply resonate with Metropolis. We are delighted to welcome him to our leadership team as we work together to elevate patient care and create greater value for our stakeholders.”
Surendran Chemmenkotil, Chief Executive Officer of Metropolis Healthcare, said, “With an estimated market size of ₹2,000 crore, Uttar Pradesh is one of North India’s fastest-growing diagnostic markets. This acquisition marks a significant step in our focused expansion strategy, strengthening our foothold in the region and expanding access to advanced diagnostics in communities where it remains limited. Agra and its neighbouring towns are key healthcare hubs in Western Uttar Pradesh with significant growth potential. With our recently established network of 8 labs and 80+ franchise partners, this move serves as a strong launchpad for our expansion in the state. Establishing Scientific Pathology in Agra as our regional reference lab will enhance capabilities, scale access through a structured franchise model, and introduce our specialised test portfolio—underscoring our commitment to scientific excellence and superior healthcare delivery.”
Dr Ashok Kumar Sharma, Founder of Scientific Pathology, said, “We are pleased to partner with Metropolis, a brand that shares our commitment to quality diagnostics. With their extensive portfolio of over 4,000 tests and expertise in specialty diagnostics, this collaboration will bring advanced healthcare closer to Agra and neighbouring towns, enabling earlier and more accurate diagnosis to improve health outcomes. By combining our strengths, we aim to serve a wider population through comprehensive B2B and B2C services. We look forward to a seamless integration that enhances healthcare access and benefits patients, doctors, and healthcare providers across Western Uttar Pradesh.”