Adar Poonawalla to partner with Trivitron to expand MyLab outside India

Mumbai: Adar Poonawalla-led Serum Institute of India Pvt. Ltd is in talks to partner with medical device maker Trivitron Healthcare to scale up its investment in MyLab Discovery Solutions Pvt.

Ltd and expand the Pune-based diagnostics provider’s operations internationally, said three people familiar with the matter.Chandra Ganjoo, group chief executive officer at Trivitron; and Gurinder Bir Kaur, associate VP of human resources, have been listed as directors on the board of a new joint venture, Mylab Trivitron Next Gen Technologies, according to a legal filing sourced by Tracxn.The deal is currently in advanced stages of due diligence, and the final contours of the transaction are yet to be decided, said two of the three people quoted earlier.“A separate entity has been created to get rid of MyLab’s debt and facilitate the investment,” the third person said—all three spoke on the condition of anonymity as details are not public yet.“Other strategics were also approached for a JV, but MyLab is going with Trivitron as the two have complementary synergies and the talks have actively progressed over the last two months,” the person said, adding that a deal is expected to be signed over the next few days.Mylab founder Hasmukh Rawal confirmed to Mint in an emailed statement, “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.”Trivitron and Serum Institute declined to comment on Mint’s queries.Mylab will benefit from Trivitron's manufacturing capabilities to bolster its presence in the in-vitro diagnostics (IVD) and molecular diagnostics in India and overseas markets. The joint