MedizinischDiagnostiche Institute lines up an investment of Rs 50 crore in Indian arm
The investment from German clinical laboratory will be used to install automated machines and web-based software.
Mumbai, August 26, 2012: The largest German clinical laboratory, Medizinisch Diagnostiche Institute (MDI) plans to invest Rs 50 crore in its Indian subsidiary.
The Indian subsidiary has already drawn up Rs 150 crore for expansion over the next three years, out of which, the parent company will invest Rs 50 crore. It is worth mentioning here that the investment will be used to install world-class automated machines and web-based software in its 25 hospital labs across the country.
MDI, a leading pathological diagnostic test company, is planning to establish over 2,000 collection centres in addition to a logistics network to transport samples to Gujarat, Maharashtra, Bangalore and Mangalore.
The Indian arm plans to achieve a turnover of Rs 50 crore by the end of FY13 and Rs 350 crore by FY15.
India's pathological laboratory sector is expected to grow to US$ 4.8 billion by 2015. The pathological sector is projected to contribute US$ 2.5 billion by 2012, according to a CII-KPMG report.
The diagnostics and pathological lab test market is expected to grow at a CAGR of 18.9 per cent during FY09-13. Post this expansion; there will be many new tests will be performed in these hospital labs. Since these tests are currently not available in the country, the samples will be sent to MDI’s Germany laboratory.
The German parent is confident that India is one of the best markets for healthcare. “It is possible that more multinationals may enter India in this particular area of operation,” said Dr Hans Rodger, Director, MDI Labs India.