- MedGenome acquires a stake in GenX Diagnostics to enhance healthcare services in Odisha with genomic solutions.
- By merging GenX Diagnostics' wide range of products with MedGenome’s omics solutions, they aim to provide the best diagnostic tools to clinicians and consumers in Eastern India.
Health tech startup MedGenome has acquired a stake in Odisha-based diagnostics lab chain GenX Diagnostics. The partnership aims to provide superior healthcare services to the people of Odisha by combining their expertise in diagnostic and genomic solutions.
“This acquisition further aims to expand our network in Tier-II & III cities in India by driving deeper penetration, new market development, and bringing new tests to the market,” said MedGenome CEO Dr. Vedam Ramprasad.
Dr Biswajit Mohanty, Managing Director & Chairman, GenX Diagnostics, Bhubaneswar stated that by combining the extensive product portfolio of GenX Diagnostics with MedGenome’s omics solutions, they are looking to empower clinicians and consumers in Eastern India with the best diagnostic tools available.
“This strategic collaboration aims to enhance healthcare services in the region, providing comprehensive and cutting-edge diagnostic solutions,” said Dr Mohanty.
GenX Diagnostics founded in 2017 by Dr. Biswajit Mohanty and Dr. Bikash Agarwal, has a strong presence in the state. They provide genetic and molecular testing services and operate seven diagnostic centers and 60 collection centers throughout the state. Featuring a flagship laboratory in Saheed Nagar, Bhubaneshwar, they are accredited by both NABL and NABH.
Peak XV Partners-backed MedGenome's acquisition of Prognosis Laboratories in Delhi NCR last May marked its second purchase within the past year, aiming to enhance its geographical presence.
Meanwhile, AI health startup Cloudphysician raised $10.5 million in a funding round led by Peak XV Partners.
Edited by Harshajit Sarmah
