Neuberg Diagnostics to invest Rs 300 crore for expansion

“We are looking at investing another Rs 300 cr for expansion plans, which will be funded through internal accruals,” Neuberg Diagnostics Chairman GSK Velu said.

The company has already invested Rs 450 crore in acquiring labs in India and abroad and upgrading them. It has 50 labs and 500 centres in the south and west India, and plans to increase the total count to 150 labs and 1,000 centres in the next three years.

“We will have three world class global reference laboratories located in Bengaluru, Ahmedabad, and Durban (South Africa) carrying out advanced range of testing using new generation in vitro diagnostics techniques,” he said. 

The company sees faster growth in African markets and plans to enter into Kenya, Uganda, Nigeria, Tanzania and Ethiopian markets. 

New generation technologies like genomics, metabolomics and proteomics that provide accurate diagnosis and also combination diagnostics, where hospitals, pharma companies and pathologists work together, is the future of the diagnostics industry, Velu said, noting that “India is lagging behind in terms of technology.”