Thyrocare To Acquire Think Health Diagnostics To Enter Into Providing ECG Services At Home

Thyrocare Technologies Ltd., a prominent diagnostic and preventive healthcare service provider in India, is set to acquire a 100% stake in Chennai-based Think Health Diagnostics, along with a related entity. The Share Purchase Agreement, finalized on February 1, 2024, positions Thyrocare as one of India's largest diagnostics and home healthcare service providers. The strategic acquisition allows Thyrocare to offer ECG services at home, facilitating entry into the insurance segment.

Rahul Guha, MD & CEO of Thyrocare Technologies Ltd., stated, "With the strategic acquisition of Think Health Diagnostics, we are well-positioned to expand our footprint in pre-policy medical checkups for the insurance segment." The move aligns with Thyrocare's vision to offer comprehensive healthcare accessibility nationwide, leveraging its robust at-home service network.

The collaboration strengthens Thyrocare's partnership business, extending its operational presence to 10 cities, including Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kanpur, Mumbai, Pune, Surat, and Jaipur. This geographical expansion sets the stage for a nationwide outreach.

Piyush Singh, Head of Partnerships at Thyrocare Technologies Ltd., highlighted the synergies with Think Health Diagnostics, emphasizing the alignment with plans for the Pre-Policy Medical Checkup market. The goal is to expand services to over 100 cities in the next year, enhancing healthcare accessibility.

The merger creates India's largest home phlebotomy network, boasting 100+ phlebotomists trained to provide ECG services at home, complementing Thyrocare's existing network of 900+ blood-collection phlebotomists. The combined expertise promises improved service delivery, faster turnaround times, and unmatched patient convenience.

Karkavel, CEO & Director of Think Health Diagnostics, expressed gratitude for the support from teams and stakeholders. He anticipates a future marked by expansion, growth, and an unwavering commitment to serving a broader patient base with an exceptional healthcare experience.

About Thyrocare: Thyrocare Technologies Limited is India's first fully automated laboratory chain, with a significant presence in over 2000 cities globally. The company focuses on delivering quality and affordable diagnostic services to laboratories, hospitals, and individuals at their doorstep. Thyrocare's extensive network of collection centers, advanced diagnostic labs, and international quality accreditations underscore its commitment to providing reliable and convenient healthcare solutions.