20 September 2023 | News
Setting sights on the future with plans to launch an IPO in the latter part of 2024 or the early months of 2025
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Chennai-based Neuberg Diagnostics has announced the successful merger of Neuberg Supratech Reference Laboratory, Ahmedabad, and Neuberg Anand Reference Laboratory, Bangalore, into Neuberg Diagnostics Private Limited. This merger has been facilitated through an NCLT court-based process, further solidifying Neuberg Diagnostics' position as a frontrunner in the diagnostic industry.
With a strategic vision to streamline operations and enhance efficiency, this merger brings together two prominent entities under the canopy of Neuberg Diagnostics Private Limited. The amalgamation has resulted in consolidating more than 80% of the overall group revenues within a single entity, setting the stage for Neuberg Diagnostics to achieve remarkable milestones.
The merger is projected to contribute to Neuberg Diagnostics' ambitious target of achieving gross revenues exceeding Rs 1,000 crore as a group in the current fiscal year. With this united front, the company can leverage its enhanced capabilities to expand and offer an extensive range of cutting-edge diagnostic services to patients across India and beyond.
Neuberg Diagnostics has also reshaped its senior management team as part of the merger. Dr Sandip Shah has been elevated to the role of Joint Managing Director at Neuberg Diagnostics; Dr Sujay Prasad is promoted to Chief Medical Director of Neuberg Diagnostics; A Ganesan, will continue with his role as Vice Chairman of Neuberg Diagnostics.
Neuberg Diagnostics has set its sights on the future with plans to launch an Initial Public Offering (IPO) in the latter part of 2024 or the early months of 2025.