Metropolis Healthcare, a Mumbai-based chain of 100 medical diagnostic laboratories with a presence in five countries, is planning to enter small towns of India.
The company is hunting for locations in tier- II and tier-III cities, including Kolhapur, Solapur, Jabalpur, Varanasi, Bhopal and several other smaller cities across India.
“We will be adding 14 new laboratories in India, mostly in the small towns,” said Ameera Shah, managing director and CEO, Metropolis Healthcare. “However, we are looking for three buyouts in the Indian market and two international acquisitions.”
The company is already engaged in talks with diagnostic centres in Nairobi, Lagos, Rwanda and Zambia. Metropolis plans to enter east Africa through Nairobi and west Africa through Lagos. It is already present in Sri Lanka and the UAE.
Company’s revenues are pegged at Rs. 450 crore and its compounded annual growth rate (CAGR) is around 50%. According to industry experts, the diagnostics market in India is witnessing a 20% growth which is faster than any country in the world.