Metropolis Healthcare to acquire Agra’s leading diagnostic chain, Scientific Pathology

New Delhi: Ameera Shah-led Metropolis Healthcare Limited has announced that its wholly owned subsidiary, Metropolis Clinical Pathology Private Limited, will acquire Agra-based Scientific Pathology through a Business Transfer Agreement (BTA).

This strategic move strengthens Metropolis’ presence in Western Uttar Pradesh, accelerates its B2C expansion, and unlocks growth opportunities across the state and beyond.

Under the agreement, Metropolis Clinical Pathology will acquire and operate all laboratories and collection centers of Scientific Pathology, founded by Dr Ashok Kumar Sharma, in Agra and neighbouring towns through a slump sale transaction. The consideration for the acquisition will range between Rs 55 crore and Rs 83 crore, determined at 12.2x of the 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. Upon completion, Metropolis Clinical Pathology will transition from a wholly owned subsidiary while continuing to be an integral part of the Metropolis Healthcare Group.

Founded in 1984 by Dr Ashok Kumar Sharma, Scientific Pathology is a well-established diagnostic brand in Agra, known for its quality, strong clinician relationships, and patient-centric approach. With three laboratories and eleven collection centres, including two NABL-accredited labs, Scientific Pathology is a market leader and was among the first automated laboratories in the region. With a strong B2C focus, 90% of its revenue is generated from walk-in patients. In FY24, the company recorded a turnover of INR 26 crore. It also has a strong digital presence, with over 50,000 app downloads and 35,000 social media followers, reinforcing its position as a digital-first healthcare provider.

Ameera Shah, Promoter and Executive Chairperson, Metropolis Healthcare Limited said: “Metropolis has successfully executed over 20 strategic acquisitions, integrating leading B2C labs in key cities and transforming them into strong regional hubs for expansion. This approach has helped establish trusted consumer healthcare brands across multiple micro-markets in India. Scientific Pathology’s strong B2C focus and 40-year legacy align seamlessly with our vision to lead in these markets. Dr. Ashok Kumar Sharma has built Scientific Pathology on the foundations of quality and service excellence—values that deeply resonate with Metropolis. We are delighted to welcome him to our leadership team as we work together to elevate patient care and create greater value for our stakeholders.”

Surendran Chemmenkotil, Chief Executive Officer, Metropolis Healthcare Limited said: “With an estimated market size of ₹2,000 crore, Uttar Pradesh is one of North India’s fastest-growing diagnostic markets. This acquisition marks a significant step in our focused expansion strategy, strengthening our foothold in the region and expanding access to advanced diagnostics in communities where it remains limited. Agra and its neighboring towns are key healthcare hubs in Western Uttar Pradesh with significant growth potential. With our recently established network of 8 labs and 80+ franchise partners, this move serves as a strong launchpad for our expansion in the state. Establishing Scientific Pathology in Agra as our regional reference lab will enhance capabilities, scale access through a structured franchise model, and introduce our specialized test portfolio—underscoring our commitment to scientific excellence and superior healthcare delivery.”

Dr. Ashok Kumar Sharma, Founder of Scientific Pathology, said: “We are pleased to partner with Metropolis, a brand that shares our commitment to quality diagnostics. With their extensive portfolio of over 4,000 tests and expertise in specialty diagnostics, this collaboration will bring advanced healthcare closer to Agra and neighboring towns, enabling earlier and more accurate diagnosis to improve health outcomes. By combining our strengths, we aim to serve a wider 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.”