Thyrocare Technologies Ltd Share Price – NSE /  BSE

Healthcare, Small Cap

Thyrocare Technologies announced the cessation of Neetin Shivajirao Desai (DIN No: 02622364) as Independent Director of the company with effect from 19 September 2024 on completion of second term.

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Thyrocare Technologies said that it shall have access to 11 centres of Vimta Labs at the locations such as Telangana, Andhra Pradesh, Uttar Pradesh and Odisha. The central processing laboratory, which is also a National Accreditation Board for Testing and Calibration Laboratories (NABL) accredited laboratory, is situated in Hyderabad, it added.

Vimta Labs through its diagnostic and pathological services business has recorded a revenue of Rs 30 crore during FY 2024 and Rs 7 Crore in Q1 FY 2025.

The company added that the completion of the acquisition is subject to fulfilment of the conditions precedent.

Rahul Guha, MD & CEO, Thyrocare Technologies, said, “This strategic move aligns with our growth objectives, allowing Thyrocare to expand its market share, solidify our leadership position in South India, and grow our business with franchisees and hospitals. Additionally, this expansion will enable Thyrocare to leverage the benefits of scale.”

Thyrocare Technologies is engaged in the healthcare industry and is involved in providing quality diagnostic services at affordable costs to patients, laboratories and hospitals in India.

Vimta Labs is a leading contract research and testing services provider in India.

Shares of Thyrocare Technologies shed 0.10% to Rs 864.05 while those of Vimta Labs slipped 2.24% to Rs 627.55 on the BSE.

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Thyrocare Technologies has signed a Business Transfer Agreement for purchase of the diagnostic and pathological services business of Vimta Labs.

Vimta Labs through its diagnostic and pathological services business has recorded a revenue of Rs 30 crore during FY 2024 and Rs 7 crore in Q1 FY 2025.

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Thyrocare Technologies announced that the Annual General Meeting (AGM) of the company will be held on 23 August 2024.

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