Mylab acquires majority stake in POC testing system developers Sanskritech

Pune: Molecular diagnostics company Mylab Discovery Solutions acquired a majority stake in Swayam developer, Sanskritech giving it access to potentially utilize Sanskritech’s point of care testing system. Mylab is planning to establish Sanskritech’s point of care (POC) testing systems at doctor offices, nursing homes, community health centers, airports amongst other centres through lab partners in an attempt to provide faster results to patients.

Sankritech developed Swayam, a portable diagnostic and tele-medicine point-of-care system which can successfully establish a small lab anywhere. This tele-medicine facility can get patients immediately tested in addition to providing them instant care, fastening up the whole process. With this acquisition, Mylab can now utilize Swayam’s expertise in diagnostic solutions development, biosensors, robotics, and liquid handling to further expand the test menu and embed Artificial Intelligence into its testing systems.

Elaborating on how this acquisition will strengthen and fasten testing, Hasmukh Rawal, Managing Director at Mylab said, “During the second wave, we saw overburdening of our testing systems. It became evident that decentralized testing would significantly improve access and turnaround times. Point-of-Care labs will be a game-changer in the diagnostics space. This acquisition will enable us to further strengthen our efforts to make point-of-care testing available everywhere in India including a remote village.”

Commenting on the acquisition, Pritam Kumawat, Founder of Sanskritech said, “Through our IoT based POC system, Swayam, we have been striving to leverage technology to create easy access to basic healthcare at an affordable cost. We look forward to working closely with Mylab to make point-of-care testing available across the country.”

Mylab plans to establish more than 1,000 POC systems which will provide over 70 tests including blood tests, disease tests, urines tests and other basic tests in a very short span of time. Mylab stated that its aim is to start the deployment of these systems with lab partners by as early as November 2021.