Mumbai: Avio Smart Market Stack Limited has signed a Share Subscription cum Shareholders’ Agreement with Huwel Lifesciences, in furtherance of the MoU executed between the two parties in September 2025.
Through this agreement, Avio Smart Market Stack aims to participate in a large-scale public tuberculosis (TB) diagnostics opportunity.
Under the agreement, Avio Smart Market Stack will acquire a minority stake in Huwel Lifesciences and collaborate on business development and project execution initiatives.
As per the defined structure, Avio Smart Market Stack is contractually entitled to receive a specified share of the net project revenues arising from orders secured and executed through its institutional engagement and business development efforts.
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Huwel Lifesciences’ tuberculosis diagnostic platform recently underwent a Health Technology Assessment (HTA) conducted by the Department of Health Research under the Ministry of Health & Family Welfare, Government of India.
The assessment evaluated molecular tuberculosis diagnostic platforms deployed nationwide. According to the findings, Huwel’s Quantiplus® MTB FAST platform enables testing at an approximate cost of ₹340 per sample.
In comparison, molecular testing systems currently used in government programmes generally range between ₹700 and ₹1,000 per test.
A key differentiator for the Quantiplus platform is its compatibility with open RT-PCR systems. This compatibility allows the Government to leverage thousands of RT-PCR machines installed across India during the COVID-19 response.
The integration enables rapid deployment of the platform without the need for proprietary hardware or significant additional capital expenditure, further strengthening the strategic relevance of Avio Smart Market Stack’s collaboration.
India conducts close to one crore tuberculosis tests annually under the National TB Elimination Programme (NTEP). With detection and drug-resistance testing combined, the annual molecular TB diagnostics market is estimated at approximately ₹1,000 crore.
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Avio Smart Market Stack: Scalable Public Health Solutions
The HTA findings position Huwel Lifesciences’ Quantiplus platform in a potential monopoly position within the public molecular TB diagnostics segment.
With the assessment now available, central and state procurement authorities can evaluate and consider the platform for wider adoption under the National TB Elimination Programme.
Commenting on the development, Vidhyasagar Reddy, Managing Director, Avio Smart Market Stack Limited, said: “The Health Technology Assessment provides important validation for cost-efficient molecular testing within a nationally significant programme. Through this strategic collaboration, we are aligning with scalable public health solutions while building our presence in the life sciences segment.”
The company indicated that this collaboration marks the beginning of Avio Smart Market Stack’s broader entry into healthcare- and diagnostics-linked opportunities, reinforcing its strategic diversification roadmap.
