Tulip Diagnostics Acquires Biosense Technologies to Expand In Vitro Diagnostics Presence in India

On November 21, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that Tulip Diagnostics, an in vitro diagnostics company under PerkinElmer, announced the acquisition of medical device company Biosense Technologies (Biosense). No financial terms of the acquisition were disclosed.

Biosense, established in 2008 and headquartered in Mumbai, India, is a medical device company. The company primarily focuses on the screening, diagnosis, and management of chronic diseases among the Indian population, dedicated to providing patients with novel and affordable point-of-care diagnostic solutions. Biosense’s mission is to enhance the quality of healthcare services to improve the well-being of a broad patient population.

On January 10, 2017, PerkinElmer (NYSE: PKI), a global leader in scientific instruments and solutions, announced the acquisition of Tulip Diagnostics to expand its in vitro diagnostics business in India. Founded in 1931 and headquartered in Massachusetts, USA, PerkinElmer provides customers with testing instruments, diagnostic tools, imaging equipment, test reagents, and software platforms, primarily serving fields such as reproductive health, infectious disease screening, genomics, biochemistry, oncology, and molecular testing.

Tulip Diagnostics, established in 1988 and headquartered in Goa, India, is one of the largest suppliers of in vitro diagnostic reagents, test kits, and diagnostic instruments in India. The company primarily provides medical services to diagnostic laboratories, government entities, private healthcare institutions, and a broad customer base, including the prevention, screening, and diagnosis of infectious diseases such as malaria, HIV, and hepatitis.

Currently, Tulip Diagnostics employs more than 1,200 full-time staff, with its business presence spanning 70 countries worldwide. The company operates manufacturing facilities and 12 branch offices in Goa and Uttarakhand, delivering products and services to over 30,000 customers through a network of 1,000 distributors.

Deepak Tripathi, President of Tulip Diagnostics, stated, “In vitro diagnostics is one of the fastest-growing vertical segments in India. Biosense possesses key technology platforms in this field and, with the support of Tulip Diagnostics, has become a leading supplier of IVD reagents, kits, and instruments. This acquisition further underscores our commitment to advancing affordable healthcare in India, while we continue to expand our business presence in the region.”

Abhishek Sen, Co-founder and CEO of Biosense, stated, “Tulip Diagnostics has established itself as a market leader in India’s in vitro diagnostics sector and is rapidly expanding in other emerging markets worldwide. We believe that this collaboration between Biosense and Tulip Diagnostics will deliver more cost-effective and innovative technologies and products to our customers.”

(Compiled by Xu Xiaoxue)