Arkray, a leading diagnostic major in Japan, has acquired the Indian business of Span Diagnostics Ltd, a listed company. According to people in the know, the management of Span Diagnostics had signed the deal comprising major business of in vitro diagnostics (IVD) on a slump sale basis with Arkray Healthcare, the Indian affiliate of the Japanese company. The deal size is estimated at Rs 100 crore. Under the agreement, Veeral Desai, one of the promoters of Span Diagnostics, will continue as managing director. Singhi Advisors has advised Span Diagnostics, while Mizuho Securities worked for the buyer. At present, the IVD industry accounts for about 2.5 per cent (Rs 2,000 crore) of the Rs 80,000-crore Indian healthcare market. The IVD reagent market size is pegged at Rs 700 crore and the IVD instruments market size is Rs 1,400 crore. The industry is growing at 15 per cent a year.
Posted on: Sat, 25 Jan 2014 05:53:29 +0000
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