Dr Lal PathLabs’ board has approved the acquisition of 70% stake in a new firm to be incorporated by Vinita Kothari and Sushila Dalal for a cash consideration not exceeding Rs 50 crore.
Dr Lal PathLabs said, “The company's wholly-owned subsidiary, Pathlabs Unifiers Pvt Ltd has decided to acquire 70 per cent of businesses of Central Lab, Indore and M/s 'Vinita Kothari', a proprietorship concern of Kothari, through a new company to be incorporated for strengthening its business presence in Madhya Pradesh.”
Diagnostic chain’ board has approved the signing of a binding term sheet for the acquisition.
Central Lab, Indore, is a partnership concern having Kothari and Dalal as its partners. It is engaged in pathology business.
Dr Lal PathLabs stated, “The indicative time period for completion of the acquisition is within three months.”
“The new company will be engaged in healthcare/diagnostic services in Madhya Pradesh and adjoining areas and shall house the business of Central Lab, Indore, and proprietorship concern M/s Vinita Kothari,” it added.
