Metropolis to acquire Hitech Diagnostic

New Delhi, October 15

Diagnostic chain Metropolis Healthcare on Friday said its board has approved the acquisition of Hitech Diagnostic Centre and its subsidiary Centralab Healthcare Services for a cash consideration of Rs 636 crore.

Earlier on January 17, 2021, Metropolis Healthcare in a regulatory filing had said its board approved the acquisition of Hitech Diagnostic Centre and its arm Centralab Healthcare Services in a combination of cash and equity shares deal.

The company’s board had earlier approved the acquisition partly by cash consideration of Rs 511 crore and equity consideration of up to 4,95,000 fully paid-up equity shares of Rs 2 each. The board has approved the amendment to the terms and conditions of the share purchase agreement dated January 17, 2021, Metropolis Healthcare said. The indicative period for completion of the acquisition is 6 months, the filing said. — PTI