SUMMARY
- Redcliffe Labs acquires Celara Diagnostics for ₹60 cr to expand diagnostic services.
- Celara Diagnostics, founded by Dr. Radhesh Srinivasan, specializes in radiology and pathology and has advanced facilities.
- Redcliffe Labs recently raised $42M in Series C funding & aims to expand into tier II & III cities.
Redcliffe Labs, an omnichannel diagnostics provider known for its cutting-edge genomic and routine testing services, has secured board approval to acquire Bengaluru-based Celara Diagnostics Pvt Ltd. The deal, valued at up to ₹60 crore ($7 million), will enhance Redcliffe’s capacity to deliver comprehensive diagnostic solutions. With a strong presence across India, Redcliffe’s focus on integrating technology with healthcare positions this acquisition as a strategic move to strengthen its diagnostic portfolio and expand its national footprint.
Founded by Dr. Radhesh Srinivasan, Celara Diagnostics provides extensive radiological and pathological diagnostic services. MRIs, CT scans, ultrasounds, and specialized services in gastroenterology, cardiology, and neurology are among its cutting-edge facilities. In FY23, the company recorded revenue of ₹25 crore and profit of ₹1.5 crore.
Dheeraj Jain-led Redcliffe Labs, a leading diagnostics platform based in Noida, offers a range of health services including routine, genomic, and molecular diagnostic tests, with over 3,500 available tests. Initially focused on DNA and genetic testing, the company expanded its offerings during the COVID-19 pandemic to provide routine testing services with a strong technological infrastructure. The firm has established labs in 16 major Indian cities and focuses on delivering accurate diagnostic results through home-based testing services.
Jain stated in March that the company wants to increase its cash flow and profitability by acquiring labs with solid financial performance. Prime Sonography & Diagnostic Centre in Kota was purchased by Medicentre, a company owned by Redcliffe Labs, earlier this year.
The most recent acquisition comes after a $42 million Series C fundraise for Redcliffe Labs, spearheaded by the Danish investment group IFU. With the funding, the company intends to increase its presence in tier II and tier III cities and build additional labs and collection facilities.
Alka Saxena, a former employee of Dr. Lal PathLabs and Health Care at Home, was appointed as the company’s new CFO, and Ankur Shah, the former CFO of Careem, was brought on as an independent director.
