M&A: Sterling Accuris Diagnostics acquires Ahmedabad-based VIP Labs



About VIP Labs:

  • Established in 1997, VIP Labs have 14 laboratories working 24 x 7 across Ahmedabad.
  • VIP Labs has NABL certification, is accredited for ISO 9001:2015, and is certified by Bio-Rad USA, AIIMS New Delhi, and CMC Vellore for External Quality Control.

About Sterling Accuris Diagnostics:

  • Founded in 2015, Sterling Accuris Diagnostics has a chain of NABL-accredited pathology laboratories with 65 Labs and 220 collection centres. 
  • Sterling is a strong player in Gujarat, and has its presence in Rajasthan (Jodhpur) and Madhya Pradesh with labs in Indore, Ratlam, and Delhi NCR.
  • In 2021, Sterling raised USD 34 Million from a fund managed by Morgan Stanley to penetrate deeper into markets and enter new geographies.


  • The acquisition would allow the company to penetrate into areas where it doesn’t have presence and expand its offerings to a larger base of customers.
  • The acquisition is seen as a strategic move that will further strengthen Sterling Accuris Diagnostics’ robust and influential presence in the diagnostics industry of Gujarat.
  • VIP Labs has a unique annual subscription-based model for its patrons, which will help Sterling Accuris strengthen its presence in the direct-to-patients segment.
  • Diagnostics segment is primarily dominated by standalone centers, with notable players like Dr. Lal PathLabs Ltd, Thyrocare Technologies Ltd, and SRL Diagnostics (Unit of Fortis Healthcare).
  • Consolidation activity is now being observed in this segment. In April 2023, SRL Diagnostics acquired Lifeline Laboratory, Delhi, In March 2023, Redcliffe Lifetech Pvt. Ltd. acquired Medicentre Sonography and Clinical Lab, Udaipur aiming to provide premium-priced health services.
  • In February 2023, Molbio Diagnostics Pvt. Ltd. acquired 70% stake in Prognosys Medical Systems, Bengaluru.
  • In August 2022, PharmEasy acquired 66.1% stake in diagnostic chain Thyrocare Technologies Ltd. through its parent company, API Holdings Ltd. for a deal worth Rs. 4,546 Crores.


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