?SRL Diagnostics to expand network and invest Rs 300 cr in 5 yrs

With the plan to expand its network, SRL Diagnostics will invest over Rs 300 crore within five years as it looks to tie up with more states to open labs in government-run hospitals, reports Business Standard (BS).

The company has already entered into partnerships with Himachal Pradesh, Jharkhand and Uttar Pradesh governments to establish labs in government run hospitals in these states. Sanjeev Vashishta, Chief Executive, SRL Ltd told BS: "The Company is coming up with 150 labs in domestic market and 50 labs in international market in the next five years, which will be an addition to 306 labs that SRL has till now."

In order to fund the expansion plan, SRL Diagnostics has drawn up an investment of more than Rs 300 crore in next five years. On the partnership with state governments, Vashishta commented: "The infrastructure development in Indian diagnostic sector is limited and government has realised the need for PPP model to provide affordable and accessible diagnostics to the masses and to fill this existing vacuum. We are also looking forward to extend our relationship with other state governments to ensure accurate and quality diagnosis is available to maximum number of people in the country."

With plethora of unaccredited labs in these cities, such initiatives will also help raise the benchmark in diagnostic services in tier- II and III cities, Vashishta added.

In Himachal Pradesh, SRL now operates 24 labs, while in Jharkhand it has set up labs in government hospitals 12 districts in this fiscal. It had recently entered into a partnership with Uttar Pradesh government to establish collection centers in 22 districts to provide over 150 specialised tests. On the overall network expansion, the company said it plans to set up labs in places, including Cuttack, Hubli, Faizabad, Goa, Nashik, Allahabad, Karimganj. In the international market, the company is eyeing Congo, Nigeria, Nepal, Sri Lanka, Bangladesh and Myanmar, the company said.