Metropolis Healthcare plans Rs 100 crore expansion
New Delhi: Diagnostic chain Metropolis Healthcare has drawn up a Rs 100-crore capex plan to open 30 labs and 700 collection centres, apart from entering the African market, a top company official has said.
"We have 2,000 collection centres now and are adding 700 more along with 30 laboratories over the next 12 months. We are already present in four countries and is entering two more African markets," promoter and managing director Ameera Shah told PTI.
Currently, the lab chain has 2,000 collection centres and 150 labs across the country and Sri Lanka, Kenya, Mauritius and Ghana.
The company would strengthen its presence in Southern and Western states and expand to the Northeast where it does not have much presence, Shah said, adding they have already identified a lab for acquisition in Gujarat.
The company will invest around Rs 100 crore for expansion, medical equipment and IT development, she said, adding the capex will be funded through internal accruals. She also ruled out hitting the capital markets for funds saying they have no plans to raise money through an initial public offer in the near future.
As part of the public-private partnership, programme, they were recently awarded a contract by the National Aids Control Organisation (Naco) under the Union health ministry to conduct an HIV viral load-testing across 525 antiretroviral therapy (ART) centres in the country.
The project will bring about a sweeping change in the way HIV patients are treated in the country now, she claimed.
Shah pointed said the domestic diagnostic market is growing at 10-11 percent annually and is expected to grow further due to the government thrust on affordable healthcare plans announced in the Budget.
The chain offers comprehensive testing in the areas of genetics biochemistry, molecular oncology, anatomic pathology, microbiology, hematology, and immunochemistry among others.
Of late, Metropolis has also expanded into new service lines like clinical trials, hospital lab management, lab-at-home services, preventive health check-ups and corporate and wellness solutions.
Metropolis processes 30 million tests a year catering to over 20,000 labs, hospitals and nursing homes and 2 lakh consultants.