Nicholas Piramal's Wellspring Acquires 100 pc Stake In Dr Phadke's Path Labs

EHM News Bureau

Dr Avinash Phadke, Director-Technical, Wellspring chain of laboratories

Wellspring, the chain of pathology laboratories and diagnostic centres promoted by Nicholas Piramal India Pvt Ltd (NPIL), has acquired the remaining 40 per cent stake in its joint venture with Dr Phadke's Path Labs in Mumbai. The entity, thereafter will be renamed as Wellspring-Dr Avinash Phadke Pathlab and Diagnostics. This will make Wellspring India's largest pathology laboratory chain.

Dr Avinash Phadke will now assume the responsibilities of Director-Technical for Wellspring chain of laboratories. Dr Swati Piramal, Director-Strategic Alliance and Communication, NPIL stated, "Wellspring-Dr Avinash Phadke Labs consists of a chain of new-age path labs that hope to deliver, at every customer contact point, the highest standard of professionalism, technology and patient care. We aim to ensure people's well-being and strive to make a difference in the quality of their lives. We are well equipped and committed to deliver an all-encompassing range of pathology and imaging services." "We are delighted to deepen the relationship with Nicholas after over five years of a very fruitful association as a JV. The deal will allow us to streamline our operations, expand into areas like radiology, cardiology, clinical trials, industrial pathology and many more," avers Dr Phadke. Girish Mehta, Business Head, Wellspring, said, "Wellspring pathology labs so far could serve around 2,500 patients per day in Mumbai. After the acquisition, we as an entity will be able to serve over 8,000 patients per day across India."