One Global Service Provider Ltd has entered into agreements to acquire 51% equity stakes in Chennai-based Matrix Labs Diagnocare Pvt Ltd (MLDPL) and Matrix Labs Pvt Ltd (MLPL), strengthening its presence in the healthcare and medical diagnostics sector.
The company will acquire 13,321 equity shares of MLDPL and 2,550 equity shares of MLPL, representing 51% of the respective companies’ share capital.
Acquisition structured through share swap
The 51% stake in MLDPL will be acquired from Suresh and Nithya S, while the stake in MLPL will be acquired from Suresh.
The consideration is ₹36 crore for MLDPL and ₹3.56 crore for MLPL. The transactions will be settled through issuance of equity shares of One Global Service Provider on a preferential basis under a share-swap arrangement.
Shares to be issued at ₹553 each
Under the proposed arrangement, One Global Service Provider will issue 6.02 lakh equity shares to Suresh and 48,480 shares to Nithya S for the MLDPL acquisition.
For the MLPL acquisition, 64,440 equity shares will be issued to Suresh. The shares will have a face value of ₹10 each and will be issued at ₹553 a share, aggregating to ₹39.54 crore.
MLDPL offers diagnostic solutions
MLDPL operates in the in-vitro diagnostics (IVD), medical diagnostics and healthcare sector. Its portfolio covers immunology, HPLC, clinical automation, microbiology, haematology, biochemistry, homeostasis and point-of-care testing.
The company provides diagnostic analysers and systems for clinical laboratories and point-of-care applications, along with installation, training, preventive and corrective maintenance, remote diagnostics and technical support services.
MLPL focuses on IVD products
MLPL operates in the medical equipment and IVD segment and is engaged in the development, manufacture and supply of IVD kits, diagnostic reagents, medical diagnostic instruments and analysers.
Its product portfolio includes CLIA, clinical chemistry and FIA-based diagnostic solutions, along with products covering immunology, HPLC, clinical automation, microbiology, haematology, biochemistry, homeostasis and point-of-care testing.
Company targets healthcare expansion
One Global Service Provider said the acquisitions are aimed at strengthening its presence in healthcare, medical diagnostics and IVD while expanding its diagnostic product and technology offerings.
The company also expects to leverage the target companies’ capabilities and market presence, generate strategic and operational synergies and enhance long-term shareholder value.