Avio Smart Market Stack Limited Signs Shareholders Agreement with Huwel; Targets Large-Scale Public TB Diagnostics Opportunity
Mar 02:Avio Smart Market Stack Limited (“ASMS”) (formerly Bartronics India Limited) has signed a Share Subscription cum Shareholders’ Agreement with Hyderabad-based Huwel Lifesciences pursuant to and in furtherance of the MoU signed between the parties in September 2025.
Under the agreement, Avio Smart Market Stack will acquire a minority stake in Huwel and collaborate on business development and project execution. Under this structure, ASMS is contractually entitled to receive a defined share of the net project revenues arising from orders secured and executed through its institutional engagement and business development efforts.
Huwel Lifesciences’ tuberculosis diagnostic platform has recently undergone 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. As per its findings, Huwel’s Quantiplus® MTB FAST platform enables testing at an approximate cost of ₹340 per sample, whereas molecular testing systems currently used in government programmes typically range between ₹700 and ₹1,000 per test. A key differentiator for the Quantiplus platform is its compatibility with open RT-PCR systems. This enables the Government to leverage the thousands of RT-PCR machines installed across India during the COVID-19 response, facilitating rapid deployment of the platform without the need for proprietary hardware or significant additional capital expenditure.
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 around ₹1,000 crore. 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, Mr 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 its broader entry into healthcare and diagnostics-linked opportunities.