Metropolis Healthcare Ltd.

PRESS RELEASE Metropolis Healthcare to acquire Agra’s Leading Diagnostic Chain, Scientific Pathology, Becoming the Second -Largest Player in Western Uttar Pradesh. ~ With this acquisition, Metropolis expands its B2C network and strengthens its presence in Western Uttar Pradesh~ India, Mumbai, 3rd March 2025: Ameera Shah -led Metropolis Healthcare Limited (NSE: METROPOLIS | BSE: 542650), India’s second -largest and most respected pathology laboratory chain, today announced that its wholly owned subsidiary, Metropolis Clinical Pathology Private Limited, will acquire Agra -based Scientific Pathology, founded by Dr Ashok Kumar Sharma, through a Business Transfer Agreement (BTA). This strategic move strengthens Metropolis’ presence in Western Uttar Pradesh, accelerates its B2C expansion, and unlocks growth opportunities across the state and beyond. Under the agreement, Metropolis Clinical Pathology will acquire and operate all laboratories and collection centers of Scientific Pathology in Agra and neighboring towns through a slump sale transaction. The consideration for the acquisition will range between INR 55 crore and INR 83 crore, determined at 12.2x of the adjusted EBITDA over a defined assessment period. The transaction will be executed through a Securities Subscription Cum Shareholders’ Agreement (SHA), backed by Metropolis Healthcare Limited. Upon completion, Metropolis Clinical Pathology will transition from a wholly owned subsidiary while continuing to be an integral part of the Metropolis Healthcare Group. Founded in 1984 by Dr Ashok Kumar Sharma, Scientific Pathology is a well-established diagnostic brand in Agra, known for its quality, strong clinician relationships, and patient-centric approach. With three laboratories and eleven collection centres, including two NABL-accredited labs, Scientific Pathology is a market leader and was among the first automated laboratories in the region. With a strong B2C focus, 90% of its revenue is generated from walk-in patients. In FY24, the company recorded a turnover of INR 26 crore. It also has a strong digital presence, with over 50,000 app downloads and 35,000 social media followers, reinforcing its position as a digital-first healthcare provider. Ms. Ameera Shah, Promoter and Executive Chairperson, Metropolis Healthcare Limited said: “Metropolis has successfully executed over 20 strategic acquisitions, integrating leading B2C labs in key cities and transforming them into strong regional hubs for expansion. This approach has helped establish trusted consumer healthcare brands across multiple micro-markets in India. Scientific Pathology’s strong B2C focus and 40-year legacy align seamlessly with our vision to lead in these markets. Dr. Ashok Kumar Sharma has built Scientific Pathology on the foundations of quality and service excellence —values that deeply resonate with Metropolis. We are delighted to welcome him to our leadership team as we work together to elevate patient care and create greater value for our stakeholders.” Mr. Surendran Chemmenkotil, Chief Executive Officer, Metropolis Healthcare Limited said: “With an estimated market size of ₹2,000 crore, Uttar Pradesh is one of North India’s fastest-growing diagnostic markets. This acquisition marks a significant step in our focused expansion strategy, strengthening our foothold in the region and expanding access to advanced diagnostics in communities where it remains limited. Agra and its neighboring towns are key healthcare hubs in Western Uttar Pradesh with significant growth potential. With our recently established network of 8 labs and 80+ franchise partners, this move serves as a strong launchpad for our expansion in the state. Establishing Scientific Pathology in Agra as our regional reference lab will enhance capabilities, scale access through a structured franchise model, and introduce our specialized test portfolio —underscoring our commitment to scientific excellence and superior healthcare delivery.” Dr. Ashok Kumar Sharma, Founder of Scientific Pathology, said: “We are pleased to partner with Metropolis, a brand that shares our commitment to quality diagnostics. With their extensive portfolio of over 4,000 tests and expertise in specialty diagnostics, this collaboration will bring advanced healthcare closer to Agra and neighboring towns, enabling earlier and more accurate diagnosis to improve health outcomes. By combining our strengths, we aim to serve a wider population through comprehensive B2B and B2C services. We look forward to a seamless integration that enhances healthcare access and benefits patients, doctors, and healthcare providers across Western Uttar Pradesh.” About Metropolis Healthcare Limited: Established in 1981, Metropolis Healthcare Limited is India’s second-largest diagnostic chain, led by visionary leader Ms. Ameera Shah, Promoter and Executive Chairperson. With over four decades of excellence, Metropolis has been a pioneer in delivering best-in-class diagnostic services to patients, healthcare providers, and corporates across India and Africa. The company’s extensive footprint spans 22 states, 3 Union Territories, and over 700 towns in India, supported by a robust network of more than 200 laboratories, 4,300 service centers, and over 10,000 touchpoints. Each year, Metropolis serves millions of individuals by providing actionable health insights that empower better clinical outcomes. Metropolis offers a comprehensive range of more than 4,000 tests and profiles, including advanced tests for diagnosing cancer, neurological disorders, infectious diseases, and various genetic abnormalities. The company’s commitment to quality and accuracy is reinforced by its consistent CAP proficiency score of over 98% for the past decade, placing it among the top 1% of laboratories worldwide for quality assurance. The Metropolis philosophy is built on the pillars of technological superiority, a warm, patient-centric approach, and reliable diagnostic reports.

The All India Institute Of Medical Science in New Delhi recently unveiled its new AI solution that assists with the early detection of cancer. Developed with the Centre for Development of Advanced Computing, Pune under the Ministry of Electronics and Information Technology, the AI system runs on deep learning models capable of analysing complex medical data with "unprecedented accuracy and efficiency". It was trained using a data set of 500,000 radiological and histopathological images from 1,500 cases of breast and ovarian cancers, the two most common types of cancer. It has now been applied by the Department of Gynaecology to validate cases of breast and ovarian cancer. AIIMS has made the AI solution available to cancer hospitals and research centres for implementation, with deployment already made to five undisclosed district hospitals. The Neurology Department at Aster CMI Hospital has created an AI tool for screening Carpal Tunnel Syndrome (CTS). The AI diagnostic solution can identify the median nerve in ultrasound videos and detect CTS with 95% accuracy, the hospital claimed in a statement. Singapore-headquartered Qritive was recently signed by three diagnostic centres and hospitals in India to deliver AI-driven pathology management solutions. According to a press release, Metropolis Healthcare , Rajiv Gandhi Cancer Institute, and CŌRE Diagnostics will be adopting Qritive's Pantheon image management system and AI solutions as part of their respective pathology modernisation strategies. "The integration of Qritive’s AI-powered platform into our workflows signifies a revolutionary step in enhancing precision, timeliness, and personalised diagnosis," Metropolis Healthcare CEO Surendran Chemmenkottil commented. "This collaboration will strengthen our diagnostic precision, resulting in improved patient outcomes, and reaffirm our dedication to delivering excellence in clinical care. The collaboration also has the potential to lead to the development of new AI services for the diagnosis of rare diseases," said Dinesh Chauhan, CEO of CŌRE Diagnostics. "With efficient identification of concerning areas and precise grading, integrating these tools has enhanced our workflow and diagnostic precision, offering significant benefits to our practice," Dr Gurudutt Gupta, head of the Pathology Department at Rajiv Gandhi Cancer Institute Research Centre, also said about their adoption of Qritive's technology. Amrita Hospital in Faridabab announced that the head of its Radiation Oncology department has received a grant from the government to develop a robot-assisted ultrasound system for image-guided therapies and hyperthermia for cancer treatment. Explaining his project, which has received support from the Indian Council of Medical Research, Dr Bhaskar Viswanathan said, "It is a non-invasive technique that uses focused ultrasound waves and has a huge potential in cancer treatment like tumour ablation, mild hyperthermia for radiotherapy and chemotherapy, and motion management during radiation delivery." "This cutting-edge technology will allow precise localisation of lesions, enabling targeted and effective delivery of therapeutic radiation and avoiding damage to the surrounding tissue and organs," he added. Dr Viswanathan will also collaborate with the Indian Institute of Technology, Hyderabad and Eranki Labs for this three-year p roject. Ambulance service Medulance has launched what could be the first 5G-enabled medical facility offering for corporates. Launched in a corporate office in Gurgaon, city southwest of India's capital New Delhi, the Smart Medical Room features diagnostic tools, telemedicine capabilities, and real-time monitoring systems. Enabling rapid communication and data transfer, it reduces emergency response time to "under 4 minutes," the company claimed in a statement. "[W]e are not only treating basic parameters inside the medical room like CPR or Basic Life Support [but] we’re also going to provide teleconferencing with the doctor from this medical room and we will ensure that they can see the patient’s vitals remotely – this means blood pressure, sugar levels, and ECGs can be simultaneously shown to a doctor while the patient is on [their] way to a hospital," Medulance co-founder Pranav Bajaj further explained.

MUMBAI, India & SINGAPORE--( BUSINESS WIRE )-- Qritive TM , a leading provider of AI solutions for pathology labs worldwide, announces partnership with esteemed diagnostic centres and hospitals in India: Metropolis Healthcare, Rajiv Gandhi Cancer Institute and CŌRE Diagnostics. These institutions have embraced Pantheon TM image management system (IMS) and Qritive's AI products, marking them as trailblazers in adoption of artificial intelligence in pathology workflows. The incorporation of Qritive's AI technology into premier diagnostic centres and hospitals marks substantial advancement in modernizing pathology practices, utilizing artificial intelligence to enhance diagnostic precision, streamline operational efficiency, ultimately elevating patient care. Mr Surendran Chemmenkottil, CEO, Metropolis Healthcare , stated: “ As we embark on this transformative journey with Qritive, we are enthusiastic about immense potential it holds for advancing our capabilities in pathology. The integration of Qritive's AI-powered platform into our workflows signifies revolutionary step in enhancing precision, timeliness, & personalized diagnosis. This collaboration reinforces our commitment to setting new standard in cancer care, particularly in supporting clinicians in making effective treatment decisions for prostate cancer detection .” “ Qritive is proud to have opportunity to work alongside such forward-looking healthcare institutions, seizing power of AI to improve patient outcomes and concurrently enhance life of their pathologists. Our team is eager to showcase how deep tech will support clinicians and contribute to “closing the gap” in cancer care, meeting aspirations of World Cancer Day of February 4 th . ” said Bruno Occhipinti, CEO, Qritive. “ We're thrilled to partner with Qritive, integrating their advanced AI solutions into our pathology workflow at CŌRE Diagnostics. This collaboration will strengthen our diagnostic precision, resulting in improved patient outcomes, reaffirm our dedication to delivering excellence in clinical care. The collaboration also has potential to lead to development of new AI services for the diagnosis of rare disease s." said Mr Dinesh Chauhan, CEO, CŌRE Diagnostics. Qritive's AI platform revolutionizes pathology workflows, with clinical studies showing up to 90% faster diagnoses and 80% less discordance. Improved diagnosis accuracy benefits cancer patient care. “ Qritive's IMS and AI modules have enhanced our pathology practice at RGCI. With efficient identification of concerning areas and precise grading, integrating these tools has enhanced our workflow & diagnostic precision, offering significant benefits to our practice. ” - Dr Gurudutt Gupta, HOD Pathology, Rajiv Gandhi Cancer Institute Research Centre.