Redcliffe Labs is set to acquire Pune-based Megavision Diagnostics Centre in a deal worth about ₹40 Cr (about $4.14 Mn), the healthtech startup's latest move to push beyond pathology into radiology and imaging.
Megavision, founded in 1996, runs two diagnostic centres in Pune's Pimpri and Nigdi areas offering MRI, CT scans, sonography, ECG and mammography. According to Redcliffe, the network generates annual revenue of about ₹20 Cr. The transaction is expected to close later this month, and Redcliffe will retain Megavision's entire workforce.
Why Redcliffe Is Buying Into Radiology
Redcliffe Labs cofounder and CEO Aditya Kandoi told Inc42 the acquisition lets the startup add MRI, CT scans, ECG, EEG and mammography to a portfolio that has so far been built around pathology and home diagnostics.
"Earlier, we were only offering pathology services. With this acquisition, we can now offer integrated diagnostics through two centres in Pimpri-Chinchwad that house MRI facilities. Having been built over the last three decades, these centres bring not just infrastructure but also strong market credibility," Kandoi said.
Radiology is capital-intensive, requiring significant infrastructure investment. Buying existing centres lets Redcliffe add imaging capacity without building it from scratch — a pattern now repeating across its recent deals.
Part Of A Wider Acquisition Run
The Megavision deal comes weeks after Redcliffe acquired Kota-based Prime Sonography and Diagnostic Center and Ajmer-based Sarvodaya Diagnostics, in deals worth about ₹5 Cr and ₹10 Cr respectively.
Both now operate under Medicentre Sonography & Clinical Lab, which Redcliffe had acquired in 2023, as part of an expansion of its radiology footprint in Rajasthan.
Redcliffe cofounder and chairman Dheeraj Jain framed the pattern as a deliberate strategy: "As we look ahead, our ambition is to build an integrated diagnostics ecosystem that delivers even greater value to patients.
Strategic acquisitions will be a key catalyst on this journey, strengthening our capabilities, expanding our geographic footprint, and accelerating our presence in radiology while reinforcing our leadership in pathology."
Earlier this year, Redcliffe also divested its fertility services business, Crysta IVF, to Moon Care Pvt Ltd in a deal valued at about ₹100 Cr.
The Numbers Behind The Push
Redcliffe posted revenue of ₹470 Cr in FY26 (ended March 2026), up 12% from ₹418 Cr in FY25. Its EBITDA loss margin narrowed by 11 percentage points, to -13% in FY26 from -24% a year earlier.
"We've considerably cut down our losses. In FY23 we were at around -80%. So we've grown substantially from there. Our CAGR over the last few years has been around 40%, while the industry and peers have grown at 10-11%," Kandoi said.
For FY27, Redcliffe is targeting revenue of about ₹700 Cr — nearly 50% YoY growth — to be driven by both organic expansion and further acquisitions. The startup said it served more than 4.3 Mn customers in FY26 while conducting 24 Mn diagnostic tests, with around 64% of its customer base coming from Tier I and II cities.
Home Diagnostics Remains The Core
Founded in 2018 by Kandoi and Jain, Redcliffe operates an omnichannel diagnostics platform offering more than 3,600 pathology tests alongside genetic and DNA-based screening across reproductive health, cancer and wellness.
It runs in 70-80 cities across India, with home sample collection accounting for nearly half of overall business; the rest comes from preventive and wellness-focused diagnostics.
