Nicholas Piramal's Wellspring completes Dr Phadke's acquisition

New Delhi, Aug 30 (UNI) Nicholas Piramal India Ltd today said its chain of pathology laboratories and diagnostic centres, Wellspring, has acquired the remaining 40 per cent stake in its joint venture with Dr Phadke's Path Labs in Mumbai for a consideration of Rs 14 crore.

The entity will now be renamed as Wellspring-Dr Avinash Phadke Pathlab and Diagnostics and will make Wellspring India's largest Pathology Laboratory chain.

Dr Avinash Phadke will assume the responsibilities of Director Technical for Wellspring chain of laboratories, a company spokesperson said.

''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,'' company Director (Strategic Alliance and Communication) Dr Swati Piramal said.

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