Page 2 - Diagnostics

Why are analysts dumping diagnostics sector for multiplexes?

Soon after the news of rising Covid-cases in parts of India, diagnostic and multiplex stocks moved in opposite directions on Monday. Find out analysts' views on the two sectors and if should you worry

Near-term outlook prescription for diagnostic firms looks fragile

Competitive pressures, high valuations limit upsides for listed lab chains

Neuberg Diagnostics to double its labs in next two years: Chairman

Diagnostics chain Neuberg Diagnostics has plans to double its laboratories and touchpoints from present 150 labs and 1,000 touchpoints present across globe in next two years, company official said

Cipla partners with Genes2Me to launch Coronavirus RT PCR test kit

The kit is validated by the Indian Council of Medical Research (ICMR) and much more advanced than other RT PCR tests, the drug firm said

Redcliffe Lifetech raises $61 mn for expansion; LeapFrog Investments leads

The funding to Redcliffe Lifetech would help the diagnostic platforms to expand access to affordable, high-quality diagnostic tests across India, especially in tier 2, 3, and 4 cities

SpiceJet's Ajay Singh starts healthcare and diagnostics platform Flebo

Flebo, a one-stop destination that allows booking of healthcare and diagnostic tests from any lab of the customer's choice, has launched in Delhi, Gurugram and Noida

Metropolis Healthcare to set up 1,800 collection centres in three years

The company is planning to add around 40 more Hitech centres during the current financial year

Manipal HealthMap acquires Hyderabad-based Medcis PathLabs in all cash-deal

Through this acquisition, Manipal HealthMap will have access to additional 19 laboratories, including one NABL accredited central laboratory in Hyderabad.

Neuberg Diagnostics becomes official diagnostic partner for CSK

This is the second year the IPL has partnered with Neuberg Diagnostics as its diagnostic partner and has started conducting COVID-19 tests for IPL team members

Tech firm MFine helps people monitor blood pressure, glucose on smartphones

MFine has democratised health care at home by bringing these solutions on to devices that are more ubiquitous and affordable than wearables

Health technology platform Tata 1mg steps up diagnostics play

Since Tata 1mg is focused on online diagnostics and home collection of samples, it has third-party partners for radiology tests

Karakoram sells shares of Vijaya Diagnostic worth over Rs 332 crore

Karakoram Ltd on Monday offloaded shares of Vijaya Diagnostic Centre Ltd worth over Rs 332 crore through an open market transaction.

Skye Air begins drone delivery trials for diagnostic sample collection

On the first day of the trials at Noida, six flights were operated for sample collection, the drone delivery services provider said in a statement

Metropolis Healthcare net profit dips 30% to Rs 41 cr in December quarter

Metropolis Healthcare on Friday said its net profit declined 29.69 per cent to Rs 41.2 crore for the third quarter ended December 31, 2021. The diagnostics chain had reported a net profit of Rs 58.6 core in the same period of previous fiscal. Revenues, however, increased to Rs 293.1 crore in the period under review as against Rs 274.7 crore in the same period of 2020-21 fiscal, Metropolis Healthcare said in a statement. "We have been able to grow our non-COVID revenue despite a sharp drop in volumes from a government contract. We have made increased investments in digital and marketing, manpower & customer experience initiatives in order to strengthen our brand. This has impacted margins which we believe is a short-term phenomenon," Metropolis Healthcare Promoter and Managing Director Ameera Shah noted. The company has been able to successfully complete the acquisition of Hitech Diagnostics during the third quarter which will enable it to scale up business, improve the B2C revenue

Thyrocare Technologies names Rahul Guha as MD & CEO

A graduate of IIM-B, Guha has spent almost 17 years at Boston Consulting Group (BCG), where he has led the healthcare and life sciences practice

Diagnostic industry may log 55% revenue growth in FY22, says report

The report by Icra Ratings also expects the prices of diagnostic tests to stabilise at current levels due to focus on volume growth and higher competitive intensity from unorganized players

We entered an otherwise hard market with Suburban deal: Dr Lal Pathlabs MD

In a Q&A, Om Manchanda says the firm is now growing organically in the Southern market, but is open to inorganic opportunities there

Lupin forays into diagnostics business; launch expected next month

Also, Lupin is looking for franchise partners with an investment of Rs 2-5 lakh without any security deposit

Sterling Accuris to raise Rs 250 crore from fund managed by Morgan Stanley

Diagnostic lab chain Sterling Accuris Wellness on Monday said it has inked a pact to raise Rs 250 crore from a fund managed by Morgan Stanley Pvt Equity Asia in order to expand operations. Sterling, which started operations in 2016, has over 1,000 employees and operates around 150 labs and collection centers in Gujarat, Delhi, Rajasthan and Madhya Pradesh. The company is aiming a revenue of around Rs 250 crore in the current fiscal year. As diseases become more complex, the need for their quick and accurate diagnosis through testing will become more critical," Sterling Accuris Chairman Girish Patel said in a statement. This will lead to increased customer preference towards organised pathology lab networks, he added. "Over the last five years, Sterling Accuris have built a strong business in the markets we operate in and the growth capital infusion from a seasoned investor like Morgan Stanley will help the team accelerate the execution of our expansion plan," Patel noted. During

Molbio Diagnostics developing more tests for Truenat platform

Molbio is preparing test kits for zika, cholera, nipah, sickle cell anaemia, ch­olera, influenza, mumps, syp­hillis, yellow fever, HIV2 etc