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Neuberg Diagnostics to invest Rs 300 cr for expansion

Press Trust of India  |  Mumbai 

Diagnostics, an alliance of five leading pathology laboratories from India, South and the UAE, is planning to invest Rs 300 crore in India, the and as part of its expansion plans.

"We are looking at investing another Rs 300 crore for expansion plans in the coming years, which will be funded through internal accruals," Diagnostics GSK told here.

The company having focus on new generation technologies in the diagnostics space, according to has already invested Rs 450 crore in acquiring laboratories in and abroad and upgrading them.

at present has 50 labs and 500 centres in the south and west India, and plans to increase the total count to 150 labs and 1,000 centres in the next three years.

"We will have three world class global reference laboratories located in Bengaluru, Ahmedabad, and (South Africa) carrying out advanced range of testing using new generation techniques," he said.

The company sees faster growth in African markets and plans to enter into Kenya, Uganda, Nigeria, and Ethiopian markets.

According to Velu, new like genomics, and that provide accurate diagnosis and also combination diagnostics, where hospitals, pharma companies and pathologists work together, is the future of the diagnostics industry.

"is lagging behind in terms of technology and we wants to focus in those areas," he said.

An alliance of five top laboratories like Anand Diagnostic Laboratory, Supratech Micropath, Ehrlich lab, Global labs and Minerva Labs, the company plans to have three infrastructure models global centre of excellence, regional reference centres and

It also wants to establish research centres in the US and European markets, to get access to latest technologies and bring it to India, according to

"Talks are on with some universities and small labs in the regions," he said.

The company, which is growing at a compounded annual growth rate of 15 per cent, clocked an consolidated revenue of Rs 400 crore last year and hopes to cross Rs 1,000-crore mark by 2021-22.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 11 2018. 14:35 IST