Krsnaa Diagnostics said that it has acquired a strategic stake in Apulki Healthcare, India's first public private partnership (PPP) dedicated for cancer and cardiac care hospital.
This collaboration aims to deliver a comprehensive suite of integrated diagnostic services at Apulkis facilities.
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As per the terms of the contract, the company will become the exclusive diagnostics partner for Apulkis cancer and cardiac hospitals for the next 30-plus years.
This partnership would provide Krsnaa access to Apulkis planned network of more than 10 hospitals across India.
In the initial phase, Apulki would launch two advanced hospitals with more than 125 beds in Pune and Mumbai, with additional facilities to follow in other metropolitan areas.
Yash Mutha, joint managing director of Krsnaa Diagnostics, stated: "This investment is more than just a strategic partnership; its a game-changer in the Indian healthcare landscape. By acquiring a stake in Apulki, we are positioning ourselves at the forefront of the rapidly expanding cancer and cardiac care segment.
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The investment is subject to fulfilment of certain conditions precedent, and the exact amount will be disclosed once we sign the definitive documents. However, it is important to note that this investment will not put any strain on our cash flows, as it will be funded entirely through internal accruals over the next 2-3 months."
Separately, Krsnaa Diagnostics informed that that it has received a letter of intent (LoI) from the Medical Superintendent, Sadar Hospital, Ranchi, Jharkhand. The LoI is for commissioning, installing, operating and maintaining the radiology services (CT and MRI) division on public private partnership basis at Sadar Hospital, Purulia Road, Ranchi.
In a different exchange filing, the diagnostics service provider said that the Ranchi Institute of Neuro-Psychiatry & Allied Services (RINPAS) has awarded a letter of Intent (LoI) to Krsnaa Diagnostics for Supply, Install, Commission, Operate and Maintain the Radiology Center (CT & MRI) and Pathology Laboratory Services on public private partnership basis at Ranchi Institute of Neuro-Psychiatry & Allied Sciences, Government of Jharkhand, India.
Krsnaa Diagnostics is a differentiated diagnostic service provider in India. It provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres across India.
The companys consolidated net profit surged 22.4% to Rs 17.92 crore in Q1 FY25 as against Rs 14.64 crore posted in Q1 FY24. Revenue from operations jumped by 22% year-on-year (YoY) to Rs 170.23 crore in the quarter ended 30 June 2024.
The scrip rose 0.10% to Rs 839.50 on the BSE.
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