Nicholas Piramal''s Wellspring acquires majority stake in Jankharia Imaging
05 January 2007
Mumbai: Nicholas Piramal-promoted chain of pathology laboratories and diagnostic centres, Wellspring, has acquired Jankharia Imaging, a successful radiology and imaging centre in Mumbai, to become India's first corporate to enter into high-end health imaging services
The new entity would be renamed Wellspring-Jankharia Imaging.
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 proposes to set up 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.
"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," said Swati Piramal, director, strategic alliance and communication, of the company.
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 by the year 2009.
"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," said G R Jankharia, head of Jankharia Imaging.