Thyrocare, a leading diagnostic and preventive healthcare service provider in India, has acquired Think Health Diagnostics, a home healthcare technology company that offers ECG services at home. The deal was announced on February 1, 2024, and will make Thyrocare one of the largest diagnostics at home healthcare service providers in India.
Why Thyrocare acquired Think Health Diagnostics
Thyrocare has entered into a Share Purchase Agreement with Think Health Diagnostics and their existing shareholders to acquire 100% stake in the company and a related entity. The acquisition will help Thyrocare expand its footprint in the pre-policy medical checkups for the insurance segment, as well as the annual health checkups market. Thyrocare will be able to offer its insurance partners a one-stop solution for blood and ECG testing, leveraging its robust at-home service network and infrastructure.
How Thyrocare and Think Health Diagnostics will benefit from the merger
The merger will enhance Thyrocare’s partnership business with the existing Think Health operational presence in 10 cities namely Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kanpur, Mumbai, Pune, Surat and Jaipur. With such presence, it sets the stage for a nationwide expansion. The synergy between Thyrocare and Think Health Diagnostics will create India’s largest home phlebotomy network with 100+ phlebotomists trained to provide ECG services at home in addition to Thyrocare’s existing network of 900+ blood-collection phlebotomists. Think Health Diagnostics’ expertise in home healthcare technology, combined with Thyrocare’s robust infrastructure, promises enhanced service delivery and an unparalleled patient experience.
What Thyrocare and Think Health Diagnostics have to say about the acquisition
Rahul Guha, MD & CEO of Thyrocare Technologies Ltd., expressed his vision for the acquisition: “With the strategic acquisition of Think Health Diagnostics, we are well-positioned to expand our footprint in pre-policy medical checkups for the insurance segment. This will allow us to give our insurance partners a one stop solution for blood and ECG testing and further deepen our presence in the Pre Policy Medical Checkup and Annual Health Checkup market. Our vision is to scale these services nationwide, leveraging our robust at-home service network and spearheading advancements in comprehensive healthcare accessibility for all across India.”
Karkavel, CEO & Director of Think Health Diagnostics, also shared his excitement about the deal: “This acquisition marks a pivotal moment in our growth trajectory. Thyrocare’s strategic alignment with Think Health’s home diagnostics expertise is undeniable. Together, we will leverage our extensive network and expertise to create an unparalleled offering, delivering seamless healthcare directly to patients’ doorsteps.”