PVP Ventures Limited (PVP) has announced the acquisition of a 52% stake in Biohygea Global Private Limited, known under the brand name Medilabs, marking a significant milestone in its ambition to build a comprehensive global healthcare services platform. This move aligns with PVP’s previously outlined strategy focusing on illness, wellness, and care, with a special emphasis on underserved markets.

The acquisition includes both primary and secondary stake purchases, securing PVP an initial 52% shareholding. PVP also plans to increase its stake over time through additional tranches. Established in 2014 by Dr Prakash, a radiologist, and G Dillibabu, a hospital and lab operations expert, Medilabs operates diagnostic centres and collaborates with local hospitals to set up labs within their premises. It offers a wide test menu of over 1,500 tests and includes facilities such as CT imaging and ultrasound services.

With this partnership, Medilabs will now focus on strengthening its position in Tier 2 and Tier 3 cities, positioning itself as a differentiated diagnostics player in the areas of fetal medicine, genomics, and oncology testing.

Arjun Ananth, CEO of PVP Ventures, commented, “This transaction fills a critical service offering in our strategy of building a powerful house of brands in healthcare services focused on Tier 2 and Tier 3 markets. We welcome Medilab into the PVP fold and look forward to making them a differentiated and scaled diagnostics player in the near future.”