Thyrocare to acquire diagnostic, pathological services biz of Vimta Labs

Thyrocare Technologies on Friday announced that it has signed a Business Transfer Agreement with Vimta Labs Limited, for acquisition of the diagnostic and pathological services business of Vimta Labs. Through its diagnostic and pathological services business, Vimta Labs has recorded a revenue of Rs 30 crore during FY2024 and Rs 7 crore in Q1 FY2025. The closing of this transaction is subject to customary conditions precedent, the company said in a regulatory filing.

Thyrocare said that it aims to leverage this established brand identity to enhance its own reach while maintaining the recognized brand of Vimta Labs. Over the years, Vimta Labs has built a strong strategic presence in and around Telangana region and enjoys significant customer loyalty. Thyrocare shall have access to 11 centres of Vimta Labs at the locations such as Telangana, Andhra Pradesh, Uttar Pradesh and Odisha. The central processing laboratory, which is also a NABL accredited laboratory, is situated in Hyderabad.

“By acquiring the diagnostic and pathological services business of Vimta Labs, Thyrocare aims at strengthening its presence in the Southern region of India while enabling it to serve a larger customer base and provide high-quality, affordable diagnostic services,” it said in a regulatory filing.

Rahul Guha, MD & CEO, Thyrocare Technologies Limited, said, “I am pleased to announce that we are acquiring the diagnostic and pathological services business of Vimta. This strategic move aligns with our growth objectives, allowing Thyrocare to expand its market share, solidify our leadership position in South India, and grow our business with franchisees and hospitals. Additionally, this expansion will enable Thyrocare to leverage the benefits of scale.”

Harita Vasireddi, MD, Vimta Labs Limited, said, “I believe this is a mutually beneficial transaction for both Vimta and Thyrocare. Vimta is a leader in contract research and testing and this divestment will be a strong strategic step forward for the company in bringing greater focus on its core businesses and further enhance its operating efficiencies. Both companies share a strong commitment to quality and exceptional customer service and therefore synergies between both brands can support expansion of diagnostics business for Thyrocare.” The Financial Express