Neuberg Diagnostics seals merger of Neuberg Supratech and Neuberg Anand

Diagnostics player Neuberg Diagnostics Private Limited, which is set to initiate an Initial Public Offering (IPO) by 2024 -25 on Wednesday announced merger of Neuberg Supratech Reference Laboratory, Ahmedabad and Neuberg Anand Reference Laboratory, Bangalore, into Neuberg Diagnostics Private Limited.

The merger, which was facilitated through a legal process overseen by the NCLT court, is expected to strengthen the company's standing in the diagnostic industry, it said in a statement. With a strategy aimed at optimizing operations and improving efficiency, this merger unites the two entities under the umbrella of Neuberg Diagnostics Private Limited. As a result, over 80% of the group's total revenues are now consolidated within a single entity.

Neuberg is looking at innovation in Personalised medicine by establishing centres of excellence, including Neuberg Centre for Genomics Medicine (NCGM), Neuberg Centre for Proteomics & Metabolomics (NCPM), Neuberg OncoPath, Jeenomics by NCGM for Transplant Immunology, and Neuberg Anand Academy of Laboratory Medicine (NAALM).

NCGM is a key player in the Genomics Segment within South Asia, the Middle East, and Africa, and it maintains a direct presence in North Carolina USA to harness the latest advancements in Genomics Medicine.

"This merger marks a significant step forward in our journey to provide unparalleled healthcare solutions. By integrating these renowned laboratories, we reinforce our commitment to delivering excellence in diagnostics and patient care,” Dr. GSK Velu, Chairman and Managing Director of Neuberg Diagnostics said.

The merger is projected to contribute to Neuberg Diagnostics' ambitious target of achieving gross revenues exceeding ₹1,000 crores (US $120+ Million) 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 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. Dr. Sujay's unparalleled medical expertise and steadfast dedication will guide the clinical services with the highest quality and patient care standards. Mr A Ganesan, will continue with his role as Vice Chairman of Neuberg Diagnostics.

Looking ahead, Neuberg Diagnostics has its eyes on the future, with intentions to initiate an Initial Public Offering (IPO) in late 2024 or the early months of 2025. This strategic move harmonises with the company's growth strategy, positioning it to draw in supplementary resources for the expansion of its operations.

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