An Indian genetic diagnostics player, MedGenome has acquired Prognosis Laboratories in an undisclosed transaction, the company informed in a statement on Friday. MedGenome is backed by Sequoia Capital, LeapFrog Investments, Novo Holdings, Sofina, HDFC, Emerge Ventures, Zodius Capital and International Finance Corporation

An Indian genetic diagnostics player, MedGenome has acquired Prognosis Laboratories in an undisclosed transaction, the company informed in a statement on Friday. MedGenome is backed by Sequoia Capital, LeapFrog Investments, Novo Holdings, Sofina, HDFC, Emerge Ventures, Zodius Capital and International Finance Corporation.

Wodehouse Capital was the exclusive financial advisor to Prognosis Laboratories and adds yet another transaction in the “Diagnostic” vertical of its Healthcare practice. They were assisted by Khaitan & Co., as the legal advisor to the sellers. 

The company said that this partnership will strengthen MedGenome’s existing network to cater to a wider population base. 

Prognosis Laboratories, established in 2013 is led by Dr Smita Sadwani, Dr. Deepak Sadwani and Mayank Madan. A NABL accredited, ICMR approved and AERB-Certified lab, provides diagnostics, microbiology and radiology services. 

The company has a test catalogue of 700+ tests spread across pathology, radiology with a specialization in Molecular diagnostics, Histopathology, Immunohistochemistry, Immunology, Biochemistry, Microbiology and Serology using latest technology. 

Dr Deepak Sadwani, Partner, Prognosis Laboratories believes this strategic partnership would accelerate the next phase of growth & expansion for the overall business.

Manmohan Tiwana, Managing Director & CEO - Wodehouse Capital believes this acquisition by MedGenome is completely in line with their stated objective of democratising the access of quality and affordable genetic solutions. Prognosis’s clients will now have access to genetic testing and a wide range of industry-first genetic tests like Rhesus D, ThyroTrack, SPITal-SEQ, NIPT and many more for detection and diagnosis of complex diseases.