Vijaya Diagnostics surges 5% on Rs 134.64-cr acquisition of PH Diagnostic Centre

Since PH Diagnostic Center is the largest business-to-consumer (B2C) diagnostic chain in Pune, it will help Vijaya Diagnostic expand rapidly in that region with a faster growth rate.

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Shares of Vijaya Diagnostics surged over 5 percent on December 19 after its board approved the acquisition of PH Diagnostic Centre for Rs 134.64 crore.

The acquisition is in line with the company’s objective to build a comprehensive diagnostic chain of network across geographies and thereby increase the market share and penetration, Vijaya Diagnostics stated in an exchange filling.

Since PH Diagnostic Centre is the largest business-to-consumer (B2C) diagnostic chain in Pune, it will help Vijaya Diagnostics expand rapidly in that region with a faster growth rate.

At 1.51pm, shares of Vijaya Diagnostics were trading nearly 3 percent higher at Rs 632.80 on the NSE.

The news of the acquisition also triggered a spike in volumes in the counter as seven lakh shares changed hands on the exchanges so far, significantly higher than the one-month daily traded average of three lakh shares.

PH Diagnostic has three hub centres across Pune, equipped with advanced radiology like MRI/CT, three-spoke centres equipped with basic radiology services like ECG, X-ray and ultrasound, and a few collection and franchise centres.

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“This acquisition will enable us to establish our presence in Western India, focusing particularly on the rapidly expanding metro city Pune. PH has strong brand recognition, contributing to nearly 90 percent of its revenue from B2C, while also generating more than 15 percent of its revenue from the wellness segment,” Suprita Reddy, MD and CEO at Vijaya Diagnostics, stated in an exchange filling.

PH Diagnostic has three centres across Pune, equipped with advanced radiology like MRI/CT, and three spoke centres equipped with basic radiology services like ECG, X-ray and ultrasound, and a few collection and franchise centers.

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