SRL Diagnostics to expand by FY23, allocates Rs 300 to 500 crore
New Delhi: SRL Diagnostics has allocated Rs 300-500 crore to expand its laboratory and collection centres network by the end of the next financial year, a top company official said.
The leading diagnostics chain currently operates over 420 laboratories in 600 cities across 34 states and union territories.
"We have allocated Rs 300-500 crore for expansion needs up to FY23-end... Since we already have a strong laboratory network, we will be adding only about 25-30 labs during this period. We will also be adding 1,500 collection centres in this time," SRL Diagnostics CEO Anand K told PTI.
SRL currently has 2,400 collection centres and 423 labs, he added.
"We are looking at both organic and inorganic routes for expansion. SRL has the strength of smoothly integrating large acquisitions," Anand said.
SRL continues to add new labs as per strategy. From April 2021, it has opened new labs in Lucknow, Cochin, and Udaipur, he said.
"We will continue to go deeper into our focus cities, and if this requires building additional capacity in terms of new labs, we would be investing in these. We are evaluating opportunities for the acquisition of labs as well as hospital lab management projects," Anand said.
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