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Mumbai’s Thyrocare acquires Punjab’s Polo Labs for $613 million

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.
July 26, 2024

India’s 2024-25 healthcare budget leaves private sector disappointed

India’s Finance Minister, Nirmala Sitharaman, presented the new coalition government’s first budget on July 23. The Bharatiya Janata Party (BJP) won the 2024 General Election, but fell short of securing an outright majority as they had hoped. The Union Budget for 2024-25 allocated ₹ 90,958 crore ($11.09 billion) to the Ministry of Health, an increase from ₹ 89,155 crore ($10.87 billion) in the previous fiscal year. This budget replaced the interim budget previously presented on February 1.
July 26, 2024

FREE BLOG Health tech venture investment may also be through the bottom of its cycle

Last month we reported that healthcare M&A investment may be through the bottom of the cycle, after two years of downturn. But it’s not just M&A of healthcare services providers that has been negatively impacted by the increase in interest rates over the past two years. Venture capital investment into health tech start-ups and scale-ups has also been affected, but now may be about to rebound.
July 26, 2024
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