Cipla to acquire 21% stake in medical test kits provider Achira Labs
Cipla Limited has agreed to acquire a stake of 21.05% in Achira Labs, a provider of point of care (PoC) medical test kits in India, for INR 25 crores.
According to Cipla, the investment will enable one of its entity’s to take care of the point of care diagnostics and antimicrobial resistance diagnostics (AMR) space via the design, development, and manufacturing of technologies based on microfluidics.
Achira Labs develops POC immunoassays and molecular assays across the clinical areas of infectious diseases, hormone analysis, anti-microbial resistance, and others.
Achin Gupta — Cipla One India Business CEO said: “This investment will further our commitment of bringing innovative, affordable and quality diagnostic solutions for all. We are guided by our purpose of Caring for Life and will continue to make strategic investments to ensure access to point of care test kit solutions.”
The deal is likely to close within 60 days and will be subject to the preceding conditions.