Diagnostics chain HealthMaP looks at merger with iGenetic
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Synopsis
Under the proposed deal, HealthMap will get access to iGenetic’s core markets in Mumbai and other profit-making regions. “The idea is to merge both entities and get bigger. The high-end diagnostic market that iGenetic is into, is a decent margin business, said one of the sources, close to iGenetic.
ET Bureau
HealthMaP Diagnostics, a diagnostic chain controlled by Manipal Group and a private equity fund managed by Morgan Stanley, is looking to merge with Mumbai-based iGenetic Diagnostics, valuing the company at 750 -1,000 crore in a continued sign of M&A and PE activity in the diagnostic space.