Mylab to acquire majority stake in Sanskrititech

MyLab will set up Point of Care (POC) testing systems through lab partners at doctors’ offices, nursing homes, community health centres, airports, etc., so that patients can get test results faster, at a lower cost and without waiting. for hours. This investment is in line with MyLab’s vision of making diagnostics accessible to all.

SWAYAMvar is a portable diagnostic and telemedicine POC system that can be used to build a small laboratory anywhere. This will help people to diagnose various diseases within minutes. Using telemedicine facility, patients can also consult doctors and start treatment immediately. Mylab will use its expertise in diagnostic solutions development, biosensors, robotics and liquid handling to expand the test menu and embed artificial intelligence, which will facilitate faster reporting and collaboration with doctors, the company said in a statement. Will make consulting experience even better. .

“During the second wave, we saw an overburden of our test systems. It became clear that decentralized testing would significantly improve access and turnaround times. PoC labs will prove to be a game changer in the diagnostics area. This acquisition will enable us to further strengthen our efforts to make PoC testing available everywhere in India including remote villages.”

As part of the deal, Mylab will acquire a majority stake in SanskritTech in an all-cash deal. The Sansktitech team will continue to operate as a separate entity under the aegis of Mylab. Mylab plans to install over 1,000 PoC systems over the next two years and start the deployment of these systems with lab partners in early November 2021.

“Through our IoT-based PoC system, Swayam, we are striving to leverage technology to create easy access to basic healthcare at an affordable cost. We look forward to working closely with Mylab to make PoC testing available across the country,” said Pritam Kumawat, Founder, Sanskrititech.

These POC systems will offer a wide range of tests including blood tests such as blood glucose, hemoglobin, lipid assay, cardiac marker assay, complete blood work, liver function test, hormonal assay, and thyroid; Disease tests such as hepatitis B (HBV), hepatitis C (HCV), human immunodeficiency virus (HIV), malaria, dengue, chikungunya and tuberculosis; Respiratory diseases, metabolic diseases, skin diseases, and urine tests such as creatinine, leukocytes, protein, pH, and calcium. The system will also provide basic tests such as height, weight, BMI, blood pressure and temperature, as well as tests for ENT, skin tests, vision tests, ECG 12 leads, and alcohol.