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Mylab Acquires Majority Stake In Sanskritech

"This acquisition will enable us to further strengthen our efforts to make point-of-care testing available everywhere in India, including a remote village,"

Mylab Discovery Solutions on Monday said it has acquired a majority stake in point-of-care startup Sanskritech for an undisclosed amount.

The company plans to deploy point of care testing systems at doctor offices, nursing homes, community health centres, airports, etc. through lab partners from November 2021, to enable patients to get test results faster and at a lower cost, Mylab said in a statement.

"This acquisition will enable us to further strengthen our efforts to make point-of-care testing available everywhere in India, including a remote village," Mylab Discovery Solutions Managing Director Hasmukh Rawal said.

Point-of-care labs will be a game-changer in the diagnostics space, he added.

The company, however, did not share any financial details of the stake acquisition.

"Through our IoT-based POC system, Swayam, we have been striving to leverage technology to create an easy access to basic healthcare at an affordable cost. We look forward to working closely with Mylab to make point-of-care testing available across the country," Sanskritech Founder Pritam Kumawat said.

Sansktitech team will continue to operate as a separate entity under the aegis of Mylab. Mylab plans to establish more than 1,000 point of care systems in the next two years and start deployment of these systems with lab partners as early as November 2021, the statement said. 

(PTI)


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acquires Mylab Discovery Solutions startup Sanskritech

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