• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , Jan. 4

Wellspring, the chain of pathology laboratories and diagnostic centres promoted by Nicholas Piramal India Ltd (NPIL), has acquired radiology and imaging centre Jankharia Imaging for an undisclosed sum.

The new entity would be renamed Wellspring-Jankharia Imaging. With this acquisition, Wellspring becomes the first corporate diagnostic provider to enter into high-end health imaging services.

"The Indian health imaging market is expected to double from the existing $350 million in the next five years. Hence, we consider the acquisition to be a strategic fit into Wellspring's expansion plans. We are now well equipped and committed to deliver an all-encompassing range of high-end health imaging services," said Dr Swati Piramal, Director - Strategic Alliance and Communication, NPIL.

Wellspring plans to set up high-end imaging centres across the country and invest about Rs 100 crore over the next three years on acquisitions.

"We expect revenue to grow by 70-80 per cent next year on the back of the tie-up with Jankharia Imaging and also our own organic growth strategy," said Mr Girish Mehta, President, Wellspring.

More Stories on : Mergers & Acquisitions | Pharmaceuticals

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
DLF doubles land bank; silent on valuations

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line