LabTalk.in, a Hyderabad-based diagnostic laboratories aggregator, launched its commercial operations on Monday. The one-month-old startup will initially integrate a little over 700 big, medium and small non-branded diagnostic labs spread over the city.
“The idea is to bring unorganised diagnostic labs onto a single platform, and enable consumers to explore and study various diagnostic services, compare rates and book services online,” Rajshekar Reddy, founder and director of LabTalk.in, told reporters.
LabTalk, which currently offers services including employee assistance for booking and consultation, home samples collection, offers and online reports on its portal, is gearing up to roll out its Android mobile app by the end of this month.
Stating that diagnostics business is estimated at Rs 30,000 crore in India and Rs 1,000 crore in Hyderabad, Reddy said it was growing at a rapid rate of 15 per cent year-on-year as people and medical fraternity were preferring evidence-based treatment.
LabTalk anticipates revenues of Rs 1 crore in the first year of operations and touch the Rs 25-crore mark in four years from then, Reddy said, adding that the company was in active talks with private equity investors to raise Rs 5 crore by March 2016 to enhance technology, support marketing activities and expand its footprint.