GSK Ventures, headed by healthcare entrepreneur G S K Velu, is looking to buy controlling stake in around 50 pathology and diagnostic labs across South Africa, Sri Lanka, UAE and India, said a Times of India report.

According to sources quoted in the report, GSK Ventures is looking to invest around $60 million to acquire these firms. “GSK has acquired shares in one of the leading diagnostic chains in South Africa and a leading one in Sri Lanka. They have also invested to aggregate labs in the Middle East and India, building an overall footprint of 50 labs and over 200 collection centres to begin with,” said one of the sources.

As per the sources, Velu has invested into a new holding company which has acquired between 51-60 per cent in diagnostic networks in the four markets in Asia and Africa.

GSK Ventures eyes stake in South African labs