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Nicholas Piramal's Wellspring acquires majority stake in Jankharia Imaging to become India's First Corporate to enter into High-End Health Imaging Services
Posted On : 2007-01-04 19:01:15( TIMEZONE : IST )
Nicholas Piramal India Ltd has announced that, Wellspring, the chain of Pathology Laboratories and Diagnostic Centres promoted by the Company, has acquired Jankharia Imaging, the most successful radiology and imaging centre in Mumbai. The new entity would be renamed as Wellspring-Jankharia Imaging. Following the acquisition Wellspring would be the first corporate diagnostic provider to enter into high-end health imaging services.
Wellspring has ambitious investment plans in the next two years during which the Company would offer tele-radiology solutions requiring expert radiology opinions across India and abroad.
Wellspring intends to have high end imaging centers across the country and would be looking for many more partners in key cities across India. It would also tap areas like public private partnership opportunities being offered by Government run Medical College hospitals across the country.
Dr. Swati Piramal, Director - Strategic Alliance and Communication, of the Company states, "The Indian health imaging market is expected to double from the existing $350 million in the next five years. Hence, we consider the acquisition to be a strategic fit into
Wellspring’s expansion plans. We are now well equipped and committed to deliver an all encompassing range of high end health imaging services."
In 2009, the imaging modalities of X-ray, ultrasound, CT, and MRI are collectively estimated to account for 68.6 per cent of the health imaging market.
According to Dr G R Jankharia, "Jankharia Imaging and its doctors are known throughout the country for their expertise in various radiology modalities and their use of cutting-edge technology to deliver these high-quality services. The alliance with Wellspring will enable Wellspring – Jankharia Imaging to spread its expertise and to accelerate the growth of new state-of-the-art technology globally."
