India based pathology chain, SRL Diagnostics, plans to set up five overseas laboratories in the next six months with special focus on the African region. It plans to expand its network in Kenya, Tanzania, Mozambique and Uganda by opening labs and collection centers SRL Diagnostics already has its presence in Democratic Republic of Congo and in Nigeria within Africa.
It cites that Africa has emerged as a big focus area for SRL Diagnostics because labs with international accreditation and consistent internal quality controls are few in the region.
Currently the company has five laboratories in Dubai, Sri Lanka, Nepal and Congo and will add another five overseas labs in next six months. Within India the group runs 738 lab units and has over 7,450 collection centers.
SRL Diagnostics earned about 3 percent of its revenue from overseas operations and the company aims to increase it to 8-10 percent in the next five years. In fiscal year 2016, its standalone revenue grew by 8 percent to over $131 million (Rs. 898 crore).
About SRL Diagnostics
SRL is a diagnostics company based in India and owned 57% by Fortis Healthcare, 34% by private equity (PE) firms and 9% by individual investors. It was established in 1996 and the first direct international presence was in 2009 when Reference Laboratories were setup in Dubai and Kathmandu. This was followed by Reference Laboratories in Colombo, Sri Lanka in 2014 and in Kinshasa, Democratic Republic of Congo in 2016.
About Fortis Healthcare
Fortis Healthcare Limited is an integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Dubai, Mauritius and Sri Lanka.