Hyderabad-based Apollo Health & Lifestyle Limited (AHLL), a subsidiary of Apollo Hospitals Enterprise, has acquired a controlling stake in Lucknow-based Care Diagnostics through an all-cash deal for an undisclosed amount.
Apollo Health & Lifestyle operates Apollo Clinics and Apollo Diagnostics in India and the Middle East. Sources familiar with the deal described it as a strategic partnership, setting the stage for future expansion.
Advay Capital Advisors advised Care Diagnostics’ promoters on the transaction. The deal involves the sale of a majority stake with a structured plan for full ownership in the future. This move positions Care Diagnostics as a leading player in Uttar Pradesh’s diagnostic and pathology sector, enabling it to expand healthcare testing services across the region.
Established in 2006, Care Diagnostics runs a main center in Lucknow along with multiple collection centers in other locations. Apollo’s investment will strengthen its operations and accelerate its expansion across Uttar Pradesh.
Neither Apollo, Care Diagnostics, nor Advay Capital Advisors have responded to queries regarding the transaction.
