Thyrocare, a prominent diagnostic and preventive healthcare service provider, has announced the acquisition of Polo Labs’ pathology diagnostics business. This strategic move aims to enhance Thyrocare’s presence in northern India, aligning with its broader business strategy of expanding diagnostic capabilities across the country.
Thyrocare, known for its fully automated diagnostic laboratories, was acquired by API Holdings on June 25, 2021, for $613 million. Since its inception, the company has raised $63.6 million in funding. Founded by Arokiaswamy Velumani, Thyrocare focuses on delivering high-quality diagnostic services at affordable prices to laboratories and hospitals both in India and internationally, with a presence in over 2,000 cities globally.
Polo Labs, a key player in the pathology diagnostics space in northern India, operates 14 laboratories across Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir. The lab is renowned for its commitment to providing affordable and accessible diagnostic services, utilizing modern and efficient technology to meet the quality expectations of its clientele.
Thyrocare’s acquisition of Polo Labs’ diagnostics business underscores its commitment to expanding its reach and enhancing its diagnostic offerings in the healthcare sector. This move is expected to significantly bolster Thyrocare’s footprint in northern India, providing a broader range of services to a larger population.
Thyrocare’s continuous focus on automation and quality, coupled with Polo Labs’ established presence in the northern region, is poised to create a formidable partnership in the diagnostic services market.
