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Krsnaa Diagnostics to focus on diagnostic services offerings and geographical footprint
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Yash Ved, Mumbai
August 04 , 2021
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Krsnaa Diagnostics Ltd, a diagnostic services provider, both in radiology and pathology, is planning to expand offering of diagnostic services with a focus on specialized diagnostics such as molecular diagnostics and genomics and geographical footprint through acquisitions.
The company will continue to expand presence across India and will focus to augment growth by pursuing selective acquisitions and strategic alliances that provide access to technology expertise, specialised services, market share and geographical reach.
The company will also focus on the private sector across both business-to-business and business-to-consumer segment by partnering with more private sector healthcare providers, establishing standalone diagnostic centres, integrated brand building campaigns, raising awareness among doctors on the quality and comprehensive nature of service offerings.
“We have expanded our business through organic growth only and intend to evaluate inorganic growth opportunities going forward," the company said.
The company stated that the radiology tests are priced 45% – 60% lower, and cost of pathology tests are priced 40% – 80% lower than market rates.
The company will open its initial public offering on August 04, 2021 and will close on August 06, 2021 and price band of the offer has been fixed at Rs. 933 to Rs. 954 per equity share.
The company proposes to utilise the net proceeds from the fresh Issue towards proposing to finance the cost of establishing diagnostics centres at Punjab, Karnataka, Himachal Pradesh and Maharashtra; repayment/pre-payment, in full or part, of borrowings from banks and other lenders availed by the company; and general corporate purposes.
For the fiscal 2021, the company’s net revenue from operations stood at Rs.3,964.56 million.
Krsnaa Diagnostics is a leading diagnostics company with the largest private-public partnerships, which are present in 14 states. It provides a range of technology-enabled diagnostic services such as imaging (including radiology), pathology/clinical laboratory and tele-radiology services to public and private hospitals, medical colleges and community health centres pan-India. The company operates 1,823 diagnostic centres.
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