Thyrocare to Exit Radiology Business for $141 Million
PharmEasy-owned Thyrocare Technologies has approved the sale of its subsidiary Nueclear Healthcare to Trovera Healthcare for approximately $141.4 million. This divestment will allow Thyrocare to focus on its core pathology business.
Thyrocare Technologies, a diagnostic chain owned by PharmEasy, has approved the sale of its wholly-owned subsidiary, Nueclear Healthcare Ltd (NHL), to Trovera Healthcare for approximately ₹141.4 crore (about $16.9 million USD). The transaction, expected to be completed by November 30, includes a cash component of ₹81.9 crore and an allotment of convertible preference shares worth ₹59.5 crore.
The divestment is driven by the significant and ongoing investment required for NHL's radiology and diagnostic-imaging operations in equipment, technology, and infrastructure. Thyrocare stated that exiting this segment will enable the company to better allocate its capital and management focus towards its core pathology business.
In a related move, Thyrocare's board also approved the purchase of land and buildings in Gurugram and Hyderabad from NHL for ₹20.59 crore. These properties currently house Thyrocare's diagnostic laboratories, for which it pays rent to NHL.
The company's decision to exit the radiology segment, which had a turnover of ₹44.62 crore in FY26 and a lower profit margin compared to Thyrocare's standalone operations, was first reported in September 2024. The segment's operating revenue saw a 4% year-on-year decline in Q1 FY27.