Pakistan’s private equity and venture capital firm, Ijara Capital Partners Ltd, has acquired diagnostics chain Sindlab Pvt, marking a significant expansion into the health care sector, Bloomberg reported.
Sindlab, which operates more than 30 outlets across Karachi, is recognised for its competitive pricing, said Farrukh Ansari, CEO of Ijara Capital, in an interview. The acquisition follows Sindlab’s earlier purchase of Searle Pakistan Co earlier this year.
Founded 47 years ago, Sindlab provides clinical laboratory, radiology, and ultrasound services. The acquisition reflects Ijara Capital’s strategy to broaden its presence in health care and continue exploring new opportunities for growth and acquisitions in the sector.
Pakistan, home to the world’s fifth-largest population, has seen its economy stabilize with support from the International Monetary Fund, providing a favorable environment for private equity investments in sectors like health care.
