| | APRIL 20238SRL Diagnostics, a subsidiary of Fortis Healthcare, a Mumbai-based hospital chain, has acquired Lifeline Laboratory to strengthen its position in the Indian pathology market. SRL Diagnostic's acquisition of Lifeline Laboratory is consistent with the company's strategy of expanding its presence in key markets such as Delhi, Mumbai, Uttar Pradesh, Andhra Pradesh, and Telangana.SRL Diagnostics noted that it competes with Mumbai-listed companies such as Metropolis Healthcare, Dr Lal PathLabs, Thyrocare Technologies, and standalone pathology labs in India's highly fragmented diagnostics market."I am confident that Lifeline will have a broader market reach and recall in an otherwise crowded segment", said Angeli Misra, Lifeline Laboratory Partner.SRL, which has over 400 labs and over 9,000 collection centers, offers over 3,500 different tests in pathology, radiology, wellness, occupational health, and clinical trials and conducts more than 100,000 tests per day, according to the press release."Lifeline will benefit tremendously from SRL's industry-leading distribution network and operational efficiencies while SRL gets an incredible NCR-focused brand that stands for quality and service. At Wodehouse, we always focus on ensuring that the partnership is a good fit and augurs well for the partners in the long term. We are confident that the SRL ­ Lifeline transaction will be a huge win-win", said Manmohan Tiwana, Managing Director and CEO, Wodehouse Capital. Lifeline Laboratory's sole financial advisor was Wodehouse Capital. The sellers were represented by the law firm Khaitan & Co. The signing of a free trade agreement between India and the European Union would contribute to the expansion of economic ties between the region and New Delhi. Sanjiv Puri, Vice President CII and Chairman and Managing Director of ITC, emphasised that the signing of the India-EU free trade agreement could be a catalyst for further strengthening the India-Italy relationship, according to a statement from the commerce ministry.On April 13th, he spoke at the CEOs Business Interactive session, which was co-hosted by the Confederation of Indian Industry (CII) and Confindustria. He was here with Commerce and Industry Minister Piyush Goyal.Goyal met with the CEOs of several major Italian companies, including SOL, SpA, Piaggio, CIBJO, Nayara Energy, and Enel Green Power.The minister briefed them on India's investment climate, policy reforms, and the potential for investing and expanding in India.According to the state-ment, the CEOs informed the minister that they were considering expand-ing operations in India to cater to Indian markets as well as exports. This will not only result in increased production and employ-ment, but will also increase India's exports, according to the report. FORTIS SUBSIDIARY SRL DIAGNOSTICS ACQUIRES LIFELINE LABORATORYINDIA-EU FREE TRADE AGREEMENT TO CONTRIBUTE TO ECONOMIC EXPANSIONIN FOCUSIN FOCUS
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