Strengthening Presence in Western Uttar Pradesh
Metropolis Healthcare Limited, India’s second-largest pathology chain, announced that its subsidiary, Metropolis Clinical Pathology Private Limited, will acquire Scientific Pathology. The Agra-based diagnostic chain was founded by Dr. Ashok Kumar Sharma. This acquisition, via a Business Transfer Agreement (BTA), expands Metropolis’ presence in Western Uttar Pradesh. It accelerates B2C growth and unlocks new market opportunities.
Transaction Details and Financial Considerations
Metropolis Clinical Pathology will acquire Scientific Pathology’s laboratories and collection centers in Agra and nearby towns, as per MetropolisIndia’s press release. The acquisition will be carried out through a slump sale transaction.
The acquisition cost will range between INR 55 crore and INR 83 crore, based on 12.2x of adjusted EBITDA over a defined assessment period. The transaction will be executed through a Securities Subscription Cum Shareholders’ Agreement (SHA), backed by Metropolis Healthcare Limited. After completion, Metropolis Clinical Pathology will transition from a wholly owned subsidiary while remaining an integral part of the Metropolis Healthcare Group.
Scientific Pathology: A Legacy of Excellence
Founded in 1984 by Dr. Ashok Kumar Sharma, Scientific Pathology has established itself as a trusted diagnostic brand in Agra. The company operates three laboratories and eleven collection centers, including two NABL-accredited labs, making it a market leader in the region. Scientific Pathology was also among the first to introduce automated laboratory services in Agra. With a strong B2C focus, 90% of its revenue comes from walk-in patients. In FY24, the company reported a turnover of INR 26 crore. It has a strong digital presence with 50,000+ app downloads and 35,000 social media followers. This reinforces its position as a digital-first healthcare provider.
Leadership Perspectives on the Acquisition
Ameera Shah, Promoter & Executive Chairperson, Metropolis Healthcare Limited
“Metropolis has successfully integrated over 20 strategic acquisitions, transforming leading B2C labs into regional hubs for expansion. This approach has enabled us to build trusted consumer healthcare brands across India’s micro-markets. Scientific Pathology’s strong B2C presence and 40-year legacy align perfectly with our vision. Dr. Ashok Kumar Sharma has built Scientific Pathology on a foundation of quality and service excellence, values that resonate deeply with Metropolis. We are excited to welcome him to our leadership team as we work together to elevate patient care and create greater value for stakeholders.”
Surendran Chemmenkotil, CEO, Metropolis Healthcare Limited
“With a market size of approximately ₹2,000 crore, Uttar Pradesh represents one of North India’s fastest-growing diagnostic markets. This acquisition is a key milestone in our expansion. It strengthens our regional presence and improves access to advanced diagnostics in underserved communities. Agra and its neighboring towns serve as key healthcare hubs with immense growth potential. Our existing network of 8 labs and 80+ franchise partners provides a solid foundation for further expansion. Establishing Scientific Pathology in Agra as our regional reference lab will enhance our capabilities, franchise network, and specialized test portfolio, reaffirming our commitment to scientific excellence and superior healthcare delivery.”
Enhancing Healthcare Access in Western Uttar Pradesh
Dr. Ashok Kumar Sharma, Founder, Scientific Pathology
“We are pleased to partner with Metropolis Healthcare, a brand that shares our commitment to quality diagnostics. With their extensive test portfolio of over 4,000 tests and expertise in specialty diagnostics, this collaboration will bring advanced healthcare services closer to Agra and neighboring towns. By combining our strengths, we aim to serve a larger population through comprehensive B2B and B2C services. We look forward to a seamless integration that enhances healthcare access and benefits patients, doctors, and healthcare providers across Western Uttar Pradesh.”
A Step Forward in Healthcare Innovation
Metropolis Healthcare’s acquisition of Scientific Pathology marks a strategic expansion in Western Uttar Pradesh, reinforcing its leadership in diagnostics and healthcare accessibility. Leveraging Scientific Pathology’s regional presence and Metropolis’ diagnostic expertise, the partnership seeks to expand superior healthcare services.