Metropolis Healthcare, India’s second-largest pathology laboratory chain, is set to acquire Agra-based Scientific Pathology in an all-cash deal valued between Rs 55-83 crore, contingent on revenue and EBITDA milestones. This strategic acquisition aims to strengthen Metropolis’ foothold in western Uttar Pradesh, where Scientific Pathology holds a strong market presence.
The acquisition will be executed through Metropolis Clinical Pathology Private Limited, a wholly-owned subsidiary of Metropolis Healthcare. Under the agreement, Metropolis Clinical Pathology will acquire and operate all laboratories and collection centers of Scientific Pathology in Agra and surrounding towns via a slump sale transaction.This marks Metropolis’ second acquisition of the year, following its recent purchase of Delhi NCR-based Core Diagnostics, a specialized cancer diagnostics provider, for Rs 246.8 crore. With these acquisitions, Metropolis’ revenue share from North India is expected to rise from 8% to 13% by FY26.
About Scientific Pathology
Founded in 1984 by Ashok Kumar Sharma, Scientific Pathology has built a robust direct-to-consumer (D2C) business model, with 90% of its revenue coming from direct customer engagement. The company operates three laboratories and eleven collection centers, including two NABL-accredited labs, and reported a turnover of Rs 26 crore in FY24.
According to Ameera Shah, Promoter and Executive Chairperson of Metropolis Healthcare, the acquisition aligns with Metropolis’ strategy of integrating leading B2C labs into regional hubs. Over the years, the company has successfully completed 20+ strategic acquisitions, transforming acquired labs into trusted consumer healthcare brands across India.
Metropolis’ Expansion Strategy in North India
Currently, West India accounts for 56% of Metropolis’ revenues, followed by South (30%), North (8%), and East (6%). With the Core Diagnostics and Scientific Pathology acquisitions, North India’s contribution to revenue is projected to increase to 13% by FY26.Shah emphasized that Metropolis aims to create a “string of pearls” strategy across North India, expanding its presence in cities and towns where its brand is less prominent.
Surendran Chemmenkotil, CEO of Metropolis Healthcare, highlighted Uttar Pradesh’s diagnostic market, valued at approximately Rs 2000 crore, as one of North India’s fastest-growing healthcare sectors. Currently, Metropolis operates eight labs and 80 collection centers in the region.With the Scientific Pathology acquisition expected to close within 30-40 days, and the Core Diagnostics deal nearing completion within 10-12 days, Metropolis Healthcare is poised for significant expansion in North India, strengthening its position as a leading diagnostic player in the country.
