Manipal HealthMap acquires iGenetic Diagnostics to expand diagnostics network in India

Manipal HealthMap has acquired Mumbai-based iGenetic Diagnostics to enhance its operations in Maharashtra, Madhya Pradesh, and Karnataka. This move aims to expand its network to over 200 centers by 2027, focusing on specialized testing. The acquisition, valued at around Rs 200 crore, will strengthen Manipal HealthMap's diagnostics portfolio, particularly in areas like oncology and fertility. iGenetic, established in 2013, specializes in high-end molecular diagnostics. This acquisition follows Manipal HealthMap's earlier purchase of Medcis Path Labs, further solidifying its position in India's growing diagnostics market, which is valued at $15 billion and characterized by significant fragmentation.