A pioneer in genetic diagnostics, MedGenome acquired Delhi-NCR-based diagnostic lab Prognosis Laboratories for an undisclosed sum to drive its expansion and geographic penetration, which would help over 11,000 clinicians in India.
“The transaction augments MedGenome’s comprehensive diagnostic portfolio, a foothold in Northern India, coupled with complementary business models and natural synergies to drive growth and profitability,” MedGenome said.
Drs Smita Sadwani, Deepak Sadwani, and Mayank Madan founded it in 2013. Prognosis Laboratories, accredited by the NABL, offers radiology, microbiology, and diagnostics services.
With a focus on molecular diagnostics, histopathology, immunology, biochemistry, microbiology, and serology, the company offers over 700 tests across pathology and radiology.
In August 2022, MedGenome raised $55 million, led by Novo Holdings, with participation from existing investors LeapFrog Investments and Sofina.
The company has so far raised funds from notable investors, including Sequoia Capital, LeapFrog Investments, Novo Holdings, Sofina, HDFC, Emerge Ventures, Zodius Capital, and International Finance Corporation.
