Synlab acquires majority stake in Pathcare to boost medical diagnostic services in Nigeria
Synlab, the leading provider of medical diagnostic services in Europe, has announced the acquisition of a majority stake in Pathcare Nigeria limited, the largest private pathology laboratory group in Nigeria.
Pathcare Nigeria is a market leader in Nigeria in the field of human laboratory diagnosis, with special focus on public private partnership. Its strong market position is based on its high-quality service, the breadth of its test portfolio, and its nationwide network.
Chairman of Pathcare Nigeria, Dr. Richard Ajayi, announced the partnership at a press conference/Media unveiling of the latest diagnostics technology at the Head office of the organisation at Ilupeju, Lagos.
The transaction with Synlab allows Pathcare Nigeria the ability to offer its Nigerian customers an extended portfolio of specialized tests being sourced from the Synlab network. The company will benefit from the technological advancements and comprehensive cost effective solutions to enhance the local business with hospitals and other customers.
Ajayi said: “Pathcare is 11 years old and the institution was established because of the pains in the medical sector of Nigeria and that pain is getting accurate and reliable diagnostic services. We did a survey and we discovered that every hospital has the same problem. Pathcare was actually set up by many hospitals to solve these problems. Pathcare also works in joint venture with Pathcare in South Africa.”
He stated that Pathcare is growing. He said last year a survey was carried out which indicated that Pathcare has the largest share in the laboratory sphere in Nigeria due to accurate and reliable results, adding, “Over the years it has become clear that we needed to do all the tests in Nigeria. In the past we spent 20 to 25 per cent running tests in South Africa. More time is taken and we then decided there is need to increase accessibility in Nigeria, and this is what has led to this relationship with Synlab. Synbab is the largest group in Europe, and with partnership we are well positioned to provide better service to Nigeria. We believe this is a transformational event for healthcare in Nigeria,” Ajayi stated.
Managing Director, Pathcare, Dr. Pamela Ajayi, said: “We are very pleased to be joining Synlab. There will be huge advantages to having the European Diagnostic Leader in Nigeria, bringing the most modern technological advancement in the field within the reach of every Nigerian. Pathcare Nigeria will continue to push the boundaries. The launch of this premier facility in Lagos with some of the most sophisticated technology in cytology and microbiology is just the beginning. We also expect this investment to have a positive impact.”
Chief Executive Officer of Synlab Emerging Markets, Thomas Degott, said: “Nigeria has a population of about 186 million, but a large proportion of the population does not have access to modern medical diagnosis. Pathcare Nigeria’s customers will benefit from an enhanced test portfolio drawing from the breadth and depth of Synlab’s international expertise.
Part of benefits derivable from the partnership include significant share in the private medical laboratory market in Nigeria
Market entry provides Nigerian customers with greater access to benchmark medical diagnostics and together with existing business in Ghana; Synlab has market-leading position in West Africa.
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