MedGenome acquires diagnostic lab Prognosis Laboratories for undisclosed sum

Genetic diagnostics player MedGenome has acquired Delhi-NCR-based diagnostic lab Prognosis Laboratories for an undisclosed sum to power its growth and geographic penetration, benefitting over 11,000 clinicians in India.

"The transaction augments MedGenome’s comprehensive diagnostic portfolio, a foothold in Northern India, coupled with complementary business models and natural synergies to drive growth and profitability," MedGenome said in a statement.

Established in 2013 by Dr Smita Sadwani, Dr Deepak Sadwani and Mayank Madan. The NABL-accredited Prognosis Laboratories provides diagnostics, microbiology and radiology services. 

The company claims to have a test catalogue of over 700 tests spread across pathology and radiology with a specialization in molecular diagnostics, histopathology, immunology, biochemistry, microbiology and serology.

In August 2022, MedGenome raised $55 million, led by Novo Holdings, with participation from existing investors LeapFrog Investments and Sofina. 

So far, the company has raised funds from notable investors, including Sequoia Capital, LeapFrog Investments, Novo Holdings, Sofina, HDFC, Emerge Ventures, Zodius Capital and International Finance Corporation.

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