Under its Wellspring venture, Nicholas Piramal India Ltd has earmarked about Rs 250 crore (Rs 2.5 billion) to set up 40 more diagnostic labs in the next two years taking the total number to 75.
"It takes about Rs 6 crore (Rs 60 million) to build such a lab, excluding the real state cost. We are aiming to add another 40 labs in the next two years to the existing 35 labs in 15 cities across the country to take our chain to 75 diagnostic centres covering 35 cities," said Nicholas Piramal's Chairman, Ajay Piramal while opening the first Wellspring Lab in the capital.
The diagnostic chain would penetrate the tier II cities too, Piramal added. Besides setting up diagnostic centres, the chain would also focus on strengthening the sample collection network to expand reach and cut travel timelines.
Nicholas Piramal was in consultation with state governments and private hospitals to undertake hospital lab and diagnostic management.
The Wellspring labs would undertake tests pertaining to biochemistry, immunology, haematology, histopathology and micro-biology.
The labs, capable of handling 95 per cent of the routine diagnostic tests, would be well-equipped to perform over four million pathology tests every year.
For the remaining five per cent high expertise tests, the drug major would be setting up more sophisticated high-end labs. While three such centres are already there, two more would come up though details on these, were yet to be finalised.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
