Dr. Lal PathLabs Limited entered into a definitive agreement to acquire Suburban Diagnostics Private Limited for INR 11.5 billion.
October 25, 2021
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Dr. Lal PathLabs Limited (BSE:539524) entered into a definitive agreement to acquire Suburban Diagnostics (India) Private Limited for INR 11.5 billion on October 26, 2021. As per the transaction, Dr. Lal PathLabs Limited will pay INR 9.25 billion plus certain performance linked payments capped at INR 2.25 billion, subject to certain adjustments. As a part of the transaction, Sanjay Arora, Founder, Suburban Diagnostics (India) Private Limited will join Dr. Lal PathLabs Limited as Group Medical Director. The transaction will be funded from Dr. Lal PathLabs Limited?s existing cash reserves. In FY 2020-21 Suburban Diagnostics (India) Private Limited generated turnover of INR 2,947 million and EBITDA of INR 575 million. The transaction is approved by board of directors of Dr. Lal PathLabs Limited. The transaction is expected to complete within one month. Ernst & Young acted as financial Advisor and L&L Partners acted as legal advisor to Dr. Lal PathLabs Limited. Avendus Capital and Candle Partners acted as Financial Advisors and Phoenix Legal acted as legal advisors to Suburban Diagnostics (India) Private Limited.
Dr. Lal PathLabs Limited is an India-based company that is engaged in providing diagnostic and related healthcare tests and services. The Company is engaged in the business of running laboratories for carrying out pathological investigations of various branches of biochemistry, hematology, histopathology, microbiology, electrophoresis, immuno-chemistry, immunology, virology, cytology, and other pathological and radiological investigations. It offers a range of tests by condition, which includes allergy, diabetes, health checkups, viral infections, fever, heart diseases, hypertension, cancer, abortions, anemia, arthritis, breast cancer, diphtheria, disorder of the liver, disorders of bone, drugs of abuse, infertility, lymphoma, tuberculosis, ovarian cancer, osteoporosis, multiple sclerosis, muscular disorder, and viral infections. The Companyâs subsidiaries include Paliwal Diagnostics Private Limited, Paliwal Medicare Private Limited, and Dr. Lal PathLabs Nepal Private Limited.
DR. LAL PATHLABS LIMITED 
