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CapMan Growth leads tender offer for Innofactor

An investment consortium led by leading Nordic private asset expert CapMan Growth has made a public tender offer for all of the shares of Innofactor, a listed Finnish software provider.

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.

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.

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