SRL Diagnostics to enter CIS, Africa
Wednesday, January 15, 2014
SRL Diagnostics, the healthcare arm of Fortis, is eyeing expansion into fast-growing markets of Africa and CIS countries. SRL, which has about 40 per cent share of the organised diagnostic market in India, plans to open labs and collection centres countries such as Congo, Kenya and Nigeria in Africa. It is also looking at tie-ups in CIS countries.
The diagnostics market in India is estimated at $2.5-3 billion.
SRL, with revenue growing 20 per cent year-on-year for FY13 (???), has 5,300 collection points and 270 labs across 500 cities, covering around half of the country’s districts. It is expected to clock revenue of Rs 750 crore for 2013-14.