Adar Poonawalla led Serum Institute of India is in advanced discussions with Trivitron Healthcare to scale up its investment in MyLab Discovery Solutions and expand the Pune based diagnostics company internationally. The two parties have already set up a new joint venture entity named MyLab Trivitron Next Gen Technologies as part of a restructuring exercise to create a clean platform for global growth.
Glimpse:
MyLab, founded in 2016 and known for developing India’s first indigenous RT-PCR test kits during the COVID-19 pandemic, aims to leverage Trivitron’s strong global distribution network and manufacturing capabilities. The proposed JV will focus on high end diagnostic technologies, international distribution, and scalable manufacturing. The deal is currently in the final stages of due diligence, with a formal agreement expected shortly.
Serum Institute of India is close to finalising a strategic partnership with Trivitron Healthcare to significantly expand MyLab Discovery Solutions’ presence in global diagnostics markets. The collaboration involves restructuring and setting up a new joint venture called MyLab Trivitron Next Gen Technologies, which will serve as a dedicated platform for international expansion while separating existing liabilities.
MyLab Discovery Solutions, a Pune based biotech firm established in 2016, rose to prominence during the COVID-19 pandemic by developing India’s first indigenous RT-PCR testing kits. Serum Institute already holds a substantial stake in the company through direct and promoter linked investments. The new partnership with Trivitron a Chennai-headquartered medical device company with a diversified portfolio in in-vitro diagnostics, imaging, ICU equipment, and neonatal care will provide MyLab with access to established distribution channels across the US, Europe, and Asia.
MyLab founder Hasmukh Rawal explained that the JV is designed to unlock better international opportunities in both distribution and manufacturing, with a clear focus on MyLab’s high end diagnostic technologies. Trivitron’s global footprint and operational expertise are expected to help MyLab scale more effectively and compete in overseas markets.
The transaction is progressing through advanced due diligence, and a formal agreement is anticipated in the coming days. This move aligns with Serum Institute’s broader strategy of diversifying beyond vaccines into the diagnostics and digital health space.
“We are structuring the JV with Trivitron for better International opportunities in distribution and manufacturing with their global reach and presence, with a focus on high-end technologies of MyLab.”
By
HB Team
