Metropolis Healthcare, India’s second largest and one of the most trusted diagnostic chains, has announced a strategic acquisition to strengthen its presence in North India. Metropolis will acquire Dr. Ahujas’ Pathology & Imaging Centre (DAPIC), a leading diagnostics player in Dehradun, Uttarakhand. The acquisition will be done through Metropolis’ wholly owned subsidiary, Metropolis Histoxpert Digital Services, for an all-cash consideration of INR 35.01 crore.
About Dr. Ahujas’ Pathology & Imaging Centre
Founded in 1990 by Dr. Alok Ahuja and Dr. Alka Ahuja, DAPIC has become a well-known name in Uttarakhand’s healthcare landscape, particularly known for its quality diagnostic services and patient trust. The company currently has:
- Two laboratories (accredited by NABL and NABH)
- 11 patient service centres
- 9 hospital-based centres
DAPIC offers a full range of pathology and soft radiology services including ultrasound, ECG and X-ray. In FY 2024-25, the diagnostic chain reported an estimated unaudited revenue of INR 11.5 crore, with 73% from pathology and 27% from radiology. 80% of DAPIC’s revenue comes from walk-in patients, which represents a significant asset for Metropolis’ regional strategy.
Strategic Rationale
This acquisition is part of Metropolis’ ‘String of Pearls’ strategy to acquire established regional players to develop a robust, geographically diversified diagnostic network across India. Recent acquisitions under this strategy include Core Diagnostics (specializing in oncology testing) and Scientific Pathology (the leading chain in Agra).
Post acquisition, Dr. Alok Ahuja and Dr. Alka Ahuja will continue to be associated with the business to ensure a smooth transition and retention of legacy trust.
Leadership Commentary
Ameera Shah, Promoter and Executive Chairperson, Metropolis Healthcare, stated:
“Dr. Ahujas’ Pathology & Imaging Centre has established a strong reputation for high-quality B2C services, scientific excellence, and patient trust, making it an ideal addition to Metropolis’ growth strategy. With the integration of DAPIC, we are significantly expanding our presence in North India. Our ‘String of Pearls’ strategy is working – North India’s contribution to our revenues has grown from 8% to 14-15%. We now want to accelerate our growth in Uttar Pradesh and Uttarakhand, which are high-growth markets.”
Surendran Chemmenkotil, CEO of Metropolis Healthcare, added:
“Uttarakhand is one of the fastest-growing diagnostic markets in North India, valued at around INR 500 crore. We are now the second-largest diagnostic chain in the state. The combination of DAPIC’s network and our existing presence in Dehradun—one laboratory and six centres—will strengthen our B2B and B2C reach, including in specialized diagnostics. We plan to expand accessibility via a structured franchise model, staying true to our commitment to scientific excellence.”
Dr. Alok Ahuja, Founder of DAPIC, emphasized the synergy:
“Metropolis is synonymous with quality and trust in diagnostics. This partnership marks the next phase of growth for DAPIC. With Metropolis’ advanced testing capabilities and strong brand, we are confident of driving innovation and growth in the region while preserving our legacy.”
Financial and Operational Outlook
Metropolis is debt-free and has cash reserves of approximately INR 112 crore as of 31st March 2025, after spending INR 130 crore on recent acquisitions. In Q4 FY25, the company reported:
- A 10% YoY increase in consolidated revenue
- A 14% YoY growth in B2C revenue, attributed to improved patient experience and network expansion
However, operational EBITDA growth was marginally lower due to acquisition-related one-time costs and higher material costs.
About Metropolis Healthcare
Established in 1981, Metropolis Healthcare is India’s second-largest diagnostic chain, serving millions of patients across India and Africa. The company operates in 22 states, 3 Union Territories, and over 700 towns, supported by a network of:
- 200+ laboratories
- 4,300 service centres
- 10,000+ touchpoints
Metropolis Healthcare has over 4,000 tests and profiles including advanced diagnostics for cancer, infectious diseases, neurological disorders and genetic conditions. The company is known for its technological edge, scientific rigor and a consistent CAP proficiency score of over 98% for over a decade – among the top 1% of diagnostic labs in the world.
Conclusion
This is a big milestone in Metropolis Healthcare’s journey to become the leader in diagnostics in North India. With a proven track record, strategic thinking and patient centric innovation, Metropolis is poised to redefine diagnostic healthcare in North India.
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