Medlife acquires Mumbai-based MedLabz

Health-tech firm Medlife Thursday said it has acquired Mumbai-based digital healthcare platform and diagnostics company MedLabz for an undisclosed amount. This acquisition will help the company consolidate its diagnostics business, Medlife said in a statement.

The company has also launched its central laboratory in Bengaluru, it added. Medlife founder and Chief Executive Officer Tushar Kumar said: "The acquisition has come at an opportune time for both the companies. While MedLabz was looking to scale up business, we wanted to strengthen our diagnostic capabilities through a viable acquisition."

The company, however, did not provide any financial details of the acquisition. Medlife, which is a leading player in the online pharmacy segment, recently announced plans to expand presence in the retail pharmacy segment.