August 2, 2021

Latest News | Will Take Appropriate Action in Hitech Diagnostic Acquisition Matter: Metropolis

New Delhi, Jul 10 (PTI) Diagnostic chain Metropolis Healthcare on Saturday said Dr Ganesan’s Hitech Diagnostic Centre does not seem to be intending to close the acquisition agreement with the company and so it will take appropriate actions in this matter.

Metropolis Healthcare board had approved the acquisition of Dr Ganesan’s Hitech Diagnostic and its subsidiary Centralab Healthcare Services on January 17, 2021 in a combination of cash and equity shares deal, it said in a regulatory filing.

To achieve the closure of the transaction, the company had taken shareholder and other necessary approvals, it added.

“However, through delays in the completion of the sellers’ obligations under the Share Purchase Agreement (SPA), the transaction as contemplated under the SPA was initiated but has not been wholly…

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