Neuberg Diagnostics seals merger of Neuberg Supratech and Neuberg Anand
The company 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
Neuberg Supratech Reference Laboratory, Ahmedabad and Neuberg Anand Reference Laboratory, Bangalore have merged into Neuberg Diagnostics. The 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. The amalgamation has resulted in consolidating more than 80 per cent of the overall group revenues within a single entity, setting the stage for Neuberg Diagnostics to achieve remarkable milestones.
Neuberg has positioned itself at the forefront of 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 has emerged as a prominent 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.
Dr GSK Velu, CMD, Neuberg Diagnostics, expressed his enthusiasm regarding the merger, stating, “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.”
The merger is projected to contribute to Neuberg Diagnostics’ ambitious target of achieving gross revenues exceeding Rs 1,000 crores ($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. His exceptional leadership qualities and strategic vision are poised to be pivotal in the company’s continued growth.
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.
A Ganesan will continue with his role as Vice Chairman of Neuberg Diagnostics. He will play a vital role and be actively engaged in the business expansions. Commenting on these appointments, Dr Velu stated, “Our leadership team is the cornerstone of our success; with me, A Ganesan, Dr Sandip Shah and Dr Sujay Prasad on the board of directors, Neuberg boasts of one of the most experienced leadership team at the board level with combined diagnostics experience of over 120 years. It will elevate Neuberg Diagnostics to new standards of excellence.”
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. This move aligns with the company’s growth strategy, enabling it to attract additional resources to expand its operations and maintaining its position at the forefront of diagnostic innovation.
