Acquisition · Healthcare & Life Sciences

Redcliffe Labs acquires Celara Diagnostics for ₹60 crore

By Startup Enthusiast · 23 September 2024

What they do

Redcliffe Labs is an omnichannel diagnostics provider with over 80 labs and 2,000 collection centres

It has acquired Bengaluru-based Celara Diagnostics for up to ₹60 crore ($7 million), its second diagnostics buy in 2024

The deal follows a $42 million Series C raise and aligns with its strategy to acquire profitable labs to boost cash flow

Redcliffe Labs has acquired Celara Diagnostics for up to ₹60 crore ($7 million).
The acquisition is Redcliffe Labs' second diagnostics acquisition in 2024.
Redcliffe Labs' board passed a resolution approving the purchase of Celara Diagnostics shares.
Celara Diagnostics is a Bengaluru-based diagnostics chain offering radiology and pathology services.
Its services include MRI, CT scans, ultrasonography, neurology, cardiology, and gastroenterology.
Celara Diagnostics reported FY23 revenue of ₹25 crore and profit of ₹1.5 crore.
Earlier in 2024, Redcliffe Labs-owned Medicentre acquired Kota-based Prime Sonography & Diagnostic Centre.

Redcliffe Labs raised a $42 million Series C led by IFU, a Denmark-based investment firm.
The company plans to use Series C funds to open more labs and collection centres in tier II and III cities.
Founder Dheeraj Jain stated in March 2024 that Redcliffe aims to acquire labs with strong financial performance to boost cash flow and profitability.
Redcliffe Labs competes with Thyrocare, Healthians, 1mg, and Dr. Lal PathLabs.

Redcliffe Labs is an omnichannel diagnostics service provider with 80+ self-owned labs and 2,000+ collection centres.
It has touched 1 crore+ lives and employs 1,500+ trained phlebotomists.
It offers doctor-curated health checkup packages, smart reports with colour-coded insights, expert consultation, AI assistance, and diet plans.
Redcliffe Labs provides home sample collection with temperature-controlled bags and MD pathologist-verified reports.
It offers Femcliffe (India's first she-centric diagnostic platform), GeneCliffe (DNA/genetic testing), and HealthEx (curated genetic test).
The company has health calculators for BMI, heart health, pre-diabetic risk, vitamin D, and fever symptoms.
Redcliffe Labs offers a 100% report accuracy or money-back guarantee.

Redcliffe Labs plans to use Series C funds to open more labs and collection centres, especially in tier II and III cities.