Metropolis Healthcare, a Mumbai-based medical diagnostics company, has announced the launch of two advanced diagnostic testing centres at Malegaon in Maharashtra, and Dehradun in Uttarakhand.
The company plans to expand its footprint in tier 2 and 3 cities across India. These new centres mark a step in Metropolis Healthcare's expansion plans. Currently, the company operates in 595 towns nationwide, and it aims to further extend to 700 towns.
The company aims to add 30 labs to its network during the current financial year,, with 17 labs already added as of the October-December quarter. Since April 2022, the company has successfully integrated 31 labs into its operations, with 21 of these labs located in previously untapped geographical regions.
“We have also added approximately 600 new centres all across the country and next year we are looking at adding about 30 labs, mostly in tier 2, tier 3 markets,” Ameera Shah, Promoter and MD, Metropolis Healthcare said.
However, amidst its expansion efforts, Metropolis Healthcare faces intensified competition, particularly from new-age healthcare competitors focusing on the low-priced business-to-business (B2B) segment.
Shah said competition in the industry isn’t new and is easing a little bit. “Competitive intensity was there and continues to be there but is lower from a perspective of aggression, pricing and discounting than it was a year ago,” she explained.
The company has increased prices effective January 2024 in the business-to-consumer (B2C) segment across India, with plans for another price hike in the B2B segment during April-June 2025.
Metropolis Healthcare remains optimistic about its fourth quarter performance, anticipating core revenue growth and margin expansion. Historically, the fourth quarter is considered the strongest for the industry, and Metropolis expects it to reflect the impact of recent price hikes.
In the first nine months of fiscal year 2024, Metropolis' revenues remained steady at ₹877 crore profit was at ₹92 crore, down from ₹110 crore.
The current market capitalisation of the company is ₹8,296.19 crore.
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