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 JV 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 assume the responsibilities of director technical for Wellspring chain of laboratories.
Dr Swati Piramal, director - Strategic Alliance and Communication, NPIL, states: “Wellspring-Dr Avinash Phadke Pathlab 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.”
According to Dr Avinash Phadke, “We are delighted to deepen the relationship with Nicholas after over 5-year of a very fruitful association as a JV. The deal will allow us to streamline our operations, expand our menu into areas like radiology, cardiology, clinical trials, industrial pathology and many other areas and of course we will continue to provide highest quality pathology investigations of international standards at prices affordable to the local population.”
Girish Mehta, business head, Wellspring says, “The joint venture between NPIL and Dr Phadke’s Path Labs was undertaken five years ago and has since proven to be highly successful. Wellspring pathology labs thus far could serve around 2500 patients per day in Mumbai. Now after the acquisition we as an entity will be able to serve over 8000 patients per day across India.” He further added that Dr Avinash Phadke now will dedicate a significant part of his time towards growth of Wellspring across India and abroad and we are extremely happy to have a person of his caliber as Director Technical of Wellspring.