MedGenome Labs, a leading genetic diagnostics and research and data company in South Asia, has acquired Trident Diagnostics & Healthcare Pvt Ltd, a diagnostics and radiology healthcare Centre based in Bengaluru. This partnership will help MedGenome further democratize genetic testing by providing integrated tests menu to clinicians, patients, and consumers across Karnataka.
Earlier this year, MedGenome Labs also ventured into direct-to-consumer (DTC) category under the brand name Genessense, offering specialized, evidence-based genetic screening tests that provide insights into a person’s health much before the onset of symptoms. This acquisition will help expand the access to these tests to consumers in Tier II and III markets.
Speaking on the acquisition, Dr. Ramprasad, CEO, Diagnostics, MedGenome Labs, said, “At a time when coronavirus has turned the world’s attention towards genome sequencing and its role in timely prevention of infectious diseases, we are taking another step forward to convey the importance of genomics and personalized medicine in healthcare to larger population.
“It is indeed a big win for healthcare,” said Kirandev Hiremath, Co-founder & Managing Director, Trident Diagnostics, “with this acquisition, we will be working closely with MedGenome Labs, an established leader in the genetic diagnostic space. This will not only give us access to world-class technology but also assist us in research and development for creating faster, effective and accurate tests results that will contribute to providing better diagnosis with comprehensive test menu.”
In addition to all of the above capabilities, MedGenome will also work closely with the government and PSUs to bolster the nation’s needs in building better health systems.
“At a time when healthcare is the current backbone of any nation, this acquisition will also help India reach the pinnacle of diagnostics and tests in the future,” said Prof. Kshama Hiremath, Co-Founder & CEO, Trident Diagnostics.
Trident team was advised by Smark Capital a Bengaluru based transaction advisory firm. Smark Capital were the exclusive advisors to Trident management on this deal.