Medizinisch Diagnostiche Institute to pump in 150 cr for expansion of its India network

 The director of the MDI labs in India, Devendu Mehta said,” We have drawn up Rs.150 crore expansion plans over the next three years period, of which our German parent Medizinisch Diagnostiche Institute which is the largest laboratory in Germany will invest Rs.50 crore. The expansion will be funded through internal accruals only for the Indian subsidiary. We plan to install world-class automated machines and web-based software in 25 hospital labs across the country and it plans to achieve a turnover of Rs.50 crore in FY 13 and Rs.350 crore in FY 15. From its Indian subsidiary, we would achieve a turnover of Rs.350 crore in 2015.”

This announcement comes at a vital time when the Indian pathology lab segment is growing rapidly. A CII-KMPG report states that this sector is expected to stand at 4.8 billion US dollars by the year 2015.Mehta further said that the diagnostics and testing sector is anticipating a growth rate of 18.9 per cent from fiscal year 2013.