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Neuberg Diagnostics to Invest ₹200 Crore in New Labs

Healthcare entrepreneur GSK Velu-backed Neuberg Diagnostics will be setting up 40 labs across the country with an investment of about ₹200 crore as part of its expansion plans. “Currently, we have 60 diagnostics labs and close to 500 collection centers in India,” said Dr Velu, chairman, Neuberg Diagnostics Pvt. Ltd.

Internal accruals

“Over the next few months, the number of labs will increase to 100. We will be investing about ₹5 crore per lab. Most of the investment will be done through internal accruals and by our partners.” These high-end reference labs housed best-in-class technologies in clinical lab medicine and focused on areas such as genomics and data analytics, he said. Dr Velu said the firm set up the Neuberg Center for Genomics in Ahmedabad and a center of excellence in Bengaluru to focus on data analytics and bio-informatics. In South Africa, it had established a lab to diagnose infectious diseases.

While the new generation techniques accounted for two-third of the revenues of diagnostic labs in the US, it was about 10 percent in India. “We [labs in India] are making long-term investment and it would take a while to reach that level,” he said. The well-known Ehrlich Laboratory was recently renamed as Neuberg Ehrlich and it became a part of Neuberg Diagnostics group, according to a company statement. Neuberg is also planning to enter the GCC (Gulf Cooperation Council) countries and Africa soon to offer new generation diagnostic techniques to ‘the common people at optimum costs.’

“Having started our venture in a small way, we have sizeable presence in southern and western parts of India, Dubai and Durban. Our next target is to enter Maharashtra and have started dialogues in Kenya, Tanzania, Uganda and Mozambique [to set up labs],” he said “At present, we are ranked as the fourth biggest diagnostic lab chain in the country and we wish to reach number two slot in two years and be known as the most reputed lab in the country,” he said. Last fiscal, Neuberg clocked revenue of ₹500 crore of which 40 percent came from international operations. Going forward, the profit ratio would be 50:50, he said. – The Hindu

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